Wires

TABLE-OPEC oil output falls by 280,000 bpd in March -survey

LONDON, April 1 (Reuters) - The following table shows crude oil output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in March and February, according to a Reuters survey published on Monday. OPEC, Russia and other non-members -- an alliance known as OPEC+ -- agreed in December to reduce supply by 1.2 million bpd in 2019. OPEC's share of that cut is 800,000 bpd among the 11 members participating in the deal. The March survey indicates that output from the 11 OPEC members with supply reduction targets fell by 280,000 bpd from February, while total OPEC output also dropped by 280,000 bpd. Compared with the levels from which they agreed to cut, which in most cases was October 2018 output, the 11 members have reduced production by 1.099 million bpd. Given the pledged reductions total 812,000 bpd, that equates to 135 percent compliance.

March February Baseline Pledged Cut Compliance 2019for cut cut achieved (pct)* target***Algeria 1.025 1.03 1.057 32,000 32,000 100

1.025

Angola 1.45 1.44 1.528 47,000 78,000 166

1.481

Congo 0.33 0.33 0.325 10,000 -5,000 negative

0.315

Ecuador 0.53 0.52 0.524 16,000 -6,000 negative

0.508

Eq. Guinea 0.13 0.12 0.127 4,000 -3,000 negative

0.123

Gabon 0.20 0.20 0.187 6,000 -13,000 negative

0.181

Iraq 4.50 4.58 4.653 141,000 153,000 109

4.512

Kuwait 2.69 2.70 2.809 85,000 119,000 140

2.724

Nigeria 1.85 1.82 1.738 53,000 -112,000 negative

1.685

Saudi Arabia 9.90 10.12 10.633 322,000 733,000 228

10.311

UAE 3.045 3.05 3.168 96,000 123,000 128

3.072

TOTAL OPEC 11 25.65 25.93 26.749 812,000 1,099,000 135

25.937

Iran** 2.75 2.80Libya** 1.10 0.90Venezuela** 0.90 1.05

TOTAL OPEC 14 30.400 30.68 NOTES:

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

**Iran, Libya and Venezuela are exempt from making voluntary output cuts

***Targets and pledged cuts apply from Jan. 1, 2019 and are as published on OPEC's website 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 is defined to include the Agbami and Egina streams and exclude Akpo condensate.

(Additional reporting by Rania El Gamal Editing by Kirsten Donovan)