OPEC Upgrades Forecast for 2022 Oil Output Outside Organization to 65.8Mln Bpd, Report Says
The commercial oil storks in the Organization for Economic Co-operation and Development (OECD) rose by 20.9 million barrels in June month-on-month, and were below the 5-year average by 261 million barrels, according to report.The oil production in OPEC countries has increased by 162,000 barrels per day to 28.84 million barrels per day in July, according to the organization's report."OPEC-13 crude oil production in July increased by 162 tb/d m-o-m to average 28.84 mb/d, according to available secondary sources," the report read.According to the report, the OPEC countries have fulled the oil output cut deal by 412% in July, by reducing production by 1.271 million barrels per day in excess of obligations.
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