OPEC+
The agreement among oil exporting countries to restrain or raise production in a coordinated way.
How to read the number
The deals manage supply rather than price directly: the effect reaches the market through inventories and shows up with a lag of months.
When the metric lies
Announced quotas and actual output diverge: some members cannot physically produce their share. A cut on paper can be smaller than the real one, while a promised increase is simply unreachable.
Also known as: OPEC alliance