Global Analysis from the European Perspective. Preparing for the world of tomorrow

OPEC Deepens Oil Production Cuts as Laggards Improve Compliance

The Organization of Petroleum Exporting Countries deepened production cuts in April with laggards improving compliance with its historic deal to limit output. Overall, output fell by 40,000 barrels a day from a month earlier to 31.895 million barrels, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Iraq, the second-biggest producer in the group, and Venezuela came closer to their targets. Source Bloomberg

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