UPDATE 3-As OPEC+ meets this week, UAE emerges as main laggard

(Adds details)
By Ahmad Ghaddar, Rania El Gamal and Alex Lawler
LONDON/DUBAI, Sept 16 (Reuters) - The United Arab Emirates
has emerged as a major laggard in delivering oil output cuts in
August, figures used by OPEC+ showed on Wednesday, as the group
meets this week amid signs of a faltering demand recovery.
Compliance with oil production cuts in August among OPEC+
members was seen at around 101%, four OPEC+ sources told Reuters
on Wednesday, a figure calculated using production assessments
from six secondary sources.
Several of the secondary sources showed the UAE missed its
target in August, with the International Energy Agency (IEA)
giving OPEC's third-largest producer a score of only 10%,
significantly lower than an average of around 80% from other
sources.
The UAE had said its overproduction was due to higher demand
for associated gas for power generation, driven by hot weather
and more people ditching foreign holidays, adding that it will
compensate for the August rise by reducing its oil supply in the
coming months.
Abu Dhabi National Oil Company (ADNOC) will reduce crude oil
supplies to term buyers in October and November.

A technical committee of the alliance of the Organization of
the Petroleum Exporting Countries and its allies, known as
OPEC+, meets on Wednesday to discuss market fundamentals and
compliance.
One of the OPEC+ sources said the UAE will submit its plan
to compensate for its overproduction in August.
Secondary source data including from the IEA, price
reporting agencies S&P Global Platts and Argus Media, and
publication Energy Intelligence have shown that laggards Iraq
and Nigeria have by and large made efforts in August to
compensate for their overproduction.
A higher-level ministerial monitoring committee meets on
Thursday, and is unlikely to announce recommendations for
expanding the oil cuts - currently at 7.7 million bpd until the
end of the year - any further, sources told Reuters this week.
The meeting, instead, is expected to extend the compensation
period for countries such as Iraq and Nigeria for their past
overproduction, and discuss underperformance from other members,
including the UAE.
The meetings come against the backdrop of worsening demand
forecasts, including from OPEC.
In its monthly report, the organisation said it expected
world oil demand to fall by 9.46 million barrels per day (bpd)
this year, more than the 9.06 million bpd decline expected a
month ago. OPEC/M
The OPEC forecast chimes with a worsening demand outlook
outlined by the International Energy Agency and major oil
industry producers and traders. (Editing by Louise Heavens and David Evans)