* Saudi oil output edges lower after Oct recovery
* Nigeria still exceeds quota by largest margin
* Angolan output posts biggest drop due to maintenance
* Output by country, compliance: By Alex Lawler
LONDON, Nov 29 (Reuters) - OPEC oil output has fallen in
November as Angolan production has slipped due to maintenance
and Saudi Arabia has kept a lid on supply to support the market
before the initial public offering (IPO) of state-owned Saudi
Aramco, a Reuters survey found.
On average, the 14-member Organization of the Petroleum
Exporting Countries has pumped 29.57 million barrels per day
(bpd) this month, according to the survey. That is down 110,000
bpd from October's revised figure.
The survey suggests Saudi Arabia, after resuming normal
supply after attacks on facilities in September, is still
pumping far less than an OPEC-led supply deal allows. OPEC meets
to review the pact on Dec. 5, the same day Aramco is due to
announce the final offer price. OPEC, Russia and other allies, known as OPEC+, agreed to
reduce supply by 1.2 million bpd from Jan. 1. OPEC's share of
the cut is about 800,000 bpd, to be delivered by 11 members,
with exemptions for Iran, Libya and Venezuela.
The producers are expected to extend their supply pact at
meetings on Dec. 5-6. OPEC delegates have said the producers
could discuss deeper supply cuts amid forecasts of excess supply
in 2020. OPEC/M
"The minimum is to extend," said an OPEC delegate.
Oil LCOc1 has slipped to $63 a barrel after spiking to $72
following the Sept. 14 attacks on Saudi oil plants. The current
price is below the levels many OPEC countries need to balance
their budgets and below the levels officials say they favour.
The 11 OPEC members bound by the supply agreement, which for
now runs until March 2020, have easily exceeded the pledged
cuts. Compliance has risen to 152% in November, the survey
found, from 135% in October.
ANGOLAN DROP
OPEC's largest production drop of 140,000 bpd was in Angola,
which exported less crude in November due to maintenance
affecting the Girassol crude stream, traders said. The African producer was already pumping far below its OPEC
quota due to a natural decline in production and a lack of new
fields coming online, rather than due to voluntary restraint.
Saudi Arabia has pumped 9.85 million bpd, down 50,000 bpd
from October, the survey found.
Riyadh's output had jumped by 850,000 bpd in October after
the September attacks, but remained below Saudi Arabia's OPEC
quota. In November, the country has been pumping more than
400,000 bpd less than the agreement allows, the survey found.
OPEC's second-largest producer Iraq has pumped slightly
less, but continues to overshoot its target.
Nigeria, which has consistently pumped more than its OPEC
target, continued to do so in November, the survey found,
although output has edged lower this month.
Among countries pumping more, the largest increase was in
Kuwait, which increased output by 70,000 bpd to 2.72 million
bpd, reaching its exact quota level.
Ecuador also pumped more after a decline in October, when
protests against government austerity measures led to several
fields being shut down.
Venezuela, which is contending with U.S. sanctions imposed
on state oil firm PDVSA and a long-term decline in output,
managed a small boost to supply with exports increasing in
November.
Production from the two other exempt producers, Libya and
Iran, was little changed.
The Reuters survey aims to track supply to the market and is
based on shipping data provided by external sources, Refinitiv
Eikon flows data and information provided by sources at oil
companies, OPEC and consultants.