Bank Of Baku

OPEC countries fulfilled 250% of their "OPEC+" obligations in June

OPEC countries fulfilled 250% of their "OPEC+" obligations in June
# 13 July 2023 17:40 (UTC +04:00)

OPEC's oil production increased by 91,000 barrels per day in June — the second month of voluntary output cuts — compared to the level of May to 28.19 million barrels per day, according to its fresh report, APA-Economics reports.

"OPEC-13 crude oil production in June increased by 91 tb/d m-o-m to an average 28.19 mb/d, according to available secondary sources," the report read.

According to OPEC data, the alliance's compliance with the oil production cut deal was fulfilled by 250%, with the organization cutting the production by 1.9 million barrels per day on top of obligations.

 

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