OPEC Quietly Opened the Taps in June

OPEC’s resolve to stick to promised supply cuts stumbled in June, the sixth month in its long-haul gambit to erode a world oil glut and boost prices. Total compliance within OPEC slipped below 100 percent, back to levels seen in February, dragged down by rising production in Angola, Iraq and Saudi Arabia. Meanwhile, a parallel effort by non-OPEC nations including Russia improved.

Source: OPEC Quietly Opened the Taps in June

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