IEA revises up oil supply forecasts as OPEC+ unwinds production cuts early
Photo: IEA/Facebook
Global oil production surged by 950,000 barrels per day (kb/d) in June to reach 105.6 million barrels per day (mb/d), according to the latest outlook from the International Energy Agency (IEA). The significant increase was largely fueled by a 700 kb/d boost in Saudi Arabian crude output.
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