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Oil production in June was 1.
25 million b/d
below May levels as OPEC worked to enforce supply restraint agreements with Russia and other allies, according to tanker tracking firm Petro-Logistics.
OPEC and its ally, known as OPEC+, agreed to cut oil supplies by a record 9.
7 million b/d starting May 1 to offset a collapse
in oil prices and demand triggered by the coronavirus crisis.
Among them, OPEC's share of production cuts was 6.
084 million b/d
.
"With the exception of Iran, Libya and Venezuela, three countries not bound by the production cuts, the remaining 10 OPEC countries are still 1.
55 million b/d away
from full implementation," Petro-Logistics said in an email.
”
Among them, "Iraq, Nigeria and Kuwait are the main countries that have reduced supply since May, with Saudi Arabia, the UAE and Angola having limited
production cuts.
" ”
Oil production in June was 1.
25 million b/d
below May levels as OPEC worked to enforce supply restraint agreements with Russia and other allies, according to tanker tracking firm Petro-Logistics.
OPEC and its ally, known as OPEC+, agreed to cut oil supplies by a record 9.
7 million b/d starting May 1 to offset a collapse
in oil prices and demand triggered by the coronavirus crisis.
Among them, OPEC's share of production cuts was 6.
084 million b/d
.
"With the exception of Iran, Libya and Venezuela, three countries not bound by the production cuts, the remaining 10 OPEC countries are still 1.
55 million b/d away
from full implementation," Petro-Logistics said in an email.
”
Among them, "Iraq, Nigeria and Kuwait are the main countries that have reduced supply since May, with Saudi Arabia, the UAE and Angola having limited
production cuts.
" ”
