According to a Bloomberg News survey of analysts, oil companies and ship-tracking data, the OPEC producers boosted their output by 260,000 bpd, when compared with May.
Key findings from the survey:
Half the increase came from Libya and Nigeria, which are exempt from the OPEC and non-OPEC output cut deal.
OPEC’s biggest producer Saudi Arabia increased output by 90,000 barrels a day in June, while Angola and the UAE both lifted production by 40,000 barrels a day from May.
The addition of Equatorial Guinea’s 150,000 barrels a day of output increased the cartel’s total June production to 32.55 million barrels a day.
To know our latest recommendation or crude oil trading signals along with stop loss and target price visit www.mmfsolutions.sg
No comments:
Post a Comment