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…the compliance rate has not been spread evenly. Some countries, specifically Saudi Arabia, Kuwait and Angola, are over complying which is compensating OPEC members who are under complying.
The problem is that many OPEC and non-OPEC countries ramped up production during the second half of 2016, especially during the final three months of the year before the agreement came into force.
Prior production increases have raised stocks and pushed back the time horizon for market rebalancing.
+Oil prices extend gains on strong us gasoline demand – MarketWatch
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