OPEC Output Climbs Again, But Still Trails Quota Targets
OPEC’s total oil production jumped by 1.17 million barrels per day in July from June as many Gulf producers restored some output that was shut in for three months due to the closed Strait of Hormuz. Output at the 11-member OPEC rose to 19.85 million bpd in July, extending the…
OPEC’s total oil production jumped by 1.17 million barrels per day in July from June as many Gulf producers restored some output that was shut in for three months due to the closed Strait of Hormuz. Output at the 11-member OPEC rose to 19.85 million bpd in July, extending the…
BELLINGS Intelligence Score: 10
Why it matters
OPEC's output increase is routine market activity reflecting supply adjustments but does not directly impact credit markets or financial regulation, thus of limited relevance to credit-market professionals.
Sources
OilPrice.com
OPEC Output Climbs Again, But Still Trails Quota Targets
OPEC’s total oil production jumped by 1.17 million barrels per day in July from June as many Gulf producers restored some output that was shut in for three months due to the closed Strait of Hormuz. Output at the 11-member OPEC rose to 19.85 million bpd in July, extending the…