Saudi Arabia drives OPEC+ production gains as Iran volumes slip
OPEC+ crude oil production increased by 500,000 barrels per day (b/d) in June, reaching 42.7 million b/d, according to the International Energy Agency’s latest outlook. The rise was driven primarily by Saudi Arabia, which added a substantial 700,000 b/d month-on-month, as other Gulf producers also raised output in response to regional instability.
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