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OPEC+ output plunges below production targets

OPEC+ produced some 2.695 million barrels of oil per day below its crude oil targets in May because of production problems from several members and as Russia faced sanctions, Reuters reported on Thursday citing an OPEC+ document it had seen as well as secondary sources.

Tim Daiss
OPEC+ output plunges below production targets

Underproduction by the OPEC+ cartel was higher in May, when overall compliance with planned output cuts stood at 256%, up from 220% a month earlier, the report said.   The development adds to global...

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