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TABLE-OPEC oil output falls 70,000 bpd in February - Reuters survey

LONDON, Feb 28 (Reuters) - The following table shows OPEC crude oil output in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Wednesday. In an effort to prop up prices, the Organization of the Petroleum Exporting Countries started reducing output by about 1.2 million bpd on Jan. 1, 2017, in its first supply cut since 2008. Nigeria and Libya, exempt from the curbs for 2017, told OPEC their output in 2018 would not exceed 2017 levels. The February survey indicates that output from the 12 OPEC members with supply reduction targets fell by 60,000 bpd compared to revised January output. Compared with levels from which they agreed to cut, which in most cases was October 2016 output, the 12 members have reduced production by 1.748 million bpd. Given the pledged reductions total 1.176 million bpd, that equates to 149 percent compliance, up from a revised 144 percent in January. January's total was revised lower by 50,000 bpd. Totals in the table below are rounded.

February January Baseline Pledged Cut Compliance Implied output output for cut cut achieved (pc)* 2018 target Algeria 1.03 1.02 (R) 1.089 50,000 59,000 118

1.039

Angola 1.60 1.61 1.751 78,000 151,000 194

1.673

Ecuador 0.53 0.53 0.548 26,000 18,000 69

0.522

Equatorial Guinea 0.13 0.14 0.14 12,000 10,000 83

0.128^

Gabon 0.20 0.20 0.202 9,000 2,000 22

0.193

Iran** 3.82 3.82 3.707 -90,000 -113,000

3.797

Iraq 4.35 4.36 4.561 210,000 211,000 100

4.351

Kuwait 2.70 2.70 2.838 131,000 138,000 105

2.707

Qatar 0.61 0.61 0.648 30,000 38,000 127

0.618

Saudi Arabia 10.00 9.98 (R) 10.544 486,000 544,000 112

10.058

UAE 2.80 2.85 (R) 3.013 139,000 213,000 153

2.874

Venezuela 1.59 1.60 2.067 95,000 477,000 502

1.972

TOTAL OPEC 12 29.36 29.42(R) 31.108 1,176,000 1,748,000 149

29.932

Libya 0.97 1.00 (R)

1

Nigeria 1.95 1.93

1.8

TOTAL OPEC 14 32.28 32.35(R)

32.732*** R = Revised

* Compliance is calculated by the following method in the table above: Baseline for cut minus February output = cut achieved Cut achieved divided by pledged cut = percentage compliance

** Iran is allowed a small increase in the deal.

*** OPEC 2018 implied target based on the 32.50 million bpd ceiling OPEC announced on Nov. 30, 2016, minus Indonesia, and using Libya and Nigeria's figures for their expected 2018 production as given at Nov. 30, 2017 meeting. used the baseline given by the International Energy Agency and pledged cut by an OPEC delegate. The Reuters survey aims to assess crude supply to market, defined to exclude movements to, but not sales from, storage. Saudi and Kuwaiti data includes the Neutral Zone. Venezuelan data includes upgraded synthetic oil. Nigerian output includes the Agbami stream and excludes Akpo condensate.

(Editing by Dale Hudson)