US EditionOPEC+ Misses 25% Of Output Hike Targets, Supporting Brent Prices Near $69
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OPEC+ has delivered about three-quarters of the output increase it promised since the increases began in April, and by the end of the year, that could be as much as half as much as producers hit capacity limits, sources and analysts said, and data shows the same trend. The group — which accounts for about 50 percent of global oil output and includes OPEC and allies such as Russia — is currently pumping about 500,000 barrels a day below its state…
OPEC+ Misses 25% Of Output Hike Targets, Supporting Brent Prices Near $69
OPEC+ has delivered only about three-quarters of the production hikes it targeted since April, with actual output falling nearly 500,000 barrels per day (bpd) short of agreed levels, according to data reviewed by Reuters. The shortfall, equivalent to 0.5% of global oil demand, has tightened market conditions and supported crude prices close to $69 per […] The post OPEC+ Misses 25% of Output Hike Targets, Supporting Brent Prices Near $69 appeared…
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