Overall compliance has improved but remains an issue as Kazakhstan in particular continues to struggle to rein in overproduction.
Crude oil production by the 18 members of Opec-plus adhering to quotas grew by 220,000 barrels per day in May to reach 34.37 million b/d, according to Energy Intelligence’s preliminary assessment, spurred by increases in Saudi Arabia and United Arab Emirates.
Kazakhstan was the main "violator" of the agreements in July as its output was 439,000 bpd above its quota considering…
In the April-September period, output by the eight members unwinding an output cut grew by 2 million b/d, with September seeing…
Concerns around production were amplified further last week with news of the UAE's shock departure.
OPEC+ raises oil production quotas amid UAE's withdrawal, but actual output may remain limited due to geopolitical constraints.
Speculation is swirling around the group's future path after three months of accelerated unwinding.
The producer group is expected to wrap up its current production cut unwinding in September, but its next steps forward are…
