OPEC Oil Output Increase Falls Short of Target

Venezuelan Oil Production Recedes as PDVSA Finds New Partners - Venezuelanalysis

Caracas, June 16, 2025 (venezuelanalysis.com) – Venezuela’s oil output has contracted for a second straight month under renewed US sanctions. The latest OPEC monthly report placed Venezuela’s May production at 896,000 barrels per day (bpd), as measured by secondary sources. The figure is 32,000 bpd lower than the previous month’s numbers. In contrast, Venezuelan state oil company PDVSA reported a May output of 1.06 million bpd, up from 1.05 mill…

OPEC Oil Output Increase Falls Short of Target

OPEC’s crude oil production rose by 180,000 barrels per day (bpd) to 27 million bpd in May, with producers part of the OPEC+ agreement raising output by much less than the 411,000 bpd headline hike planned for last month as some members compensated for past overproduction.  The five OPEC members that have pledged cuts in the OPEC+ agreement – Saudi Arabia, Iraq, UAE, Kuwait, and Algeria – and are now gradually unwinding these cuts had to raise t…

OPEC+ output falls short in May as members cut oil to offset quota breaches

Key OPEC+ nations added less oil to the market last month than the headline figure of its output plan, as the organisation’s leadership pushed members to atone for earlier overproduction.  The post OPEC+ output falls short in May as members cut oil to offset quota breaches appeared first on Nairametrics.

OPEC Says Output Hike Tempered by Compensation from Quota Cheats

With Iran's crude exports so far unaffected, the OPEC secretary-general said OPEC doesn't need to take any immediate action.