Opec’s production remained relatively stable in August, creeping up just 20,000 b/d to 29.81mn b/d. The group’s key players are to meet alongside non-Opec counterparts next week in Abu Dhabi, where the focus will be on those members which continue to breach their obligations.

Overall, the 11 members subject to production quotas produced 250,000 b/d less than their allocated total (see table). This is down from July’s 370,000 b/d thanks to sizeable production increases from...