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OPEC output fell 460k bpd in May – survey

May 31, 2023 by admin 0 Comments

OPEC members pumped 28.01m bpd in May
Production fell 460k bpd after voluntary cuts took effect
Output is down 1.5 mbpd from Sept
April output was revised down 150k bpd

Nigeria, Angola and Iraq are producing materially under their voluntary and formal cuts. It could be a problem for the oil market if they’re able to restore those flows.

This article was originally published by Forexlive.com. Read the original article here.

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