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 An increasingly stretched OPEC and its allies on June 30 reaffirmed plans for a nominal 648,000 b/d production rise in August, as questions continued to swirl about how much crude oil the group will be able and willing to pump in the months ahead.The OPEC+  and Russia, have been slowly raising their quotas each month, aiming to restore production to pre-pandemic levels by August, but many countries have not been able to keep up, due to slow infrastructure,  lack of funds or political issues.

OPEC+ reaffirms August oil production hike, leaves future output policy undecided

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 An increasingly stretched OPEC and its allies on June 30 reaffirmed plans for a nominal 648,000 b/d production rise in August, as questions continued to swirl about how much crude oil the group will be able and willing to pump in the months ahead.The OPEC+  and Russia, have been slowly raising their quotas each month, aiming to restore production to pre-pandemic levels by August, but many countries have not been able to keep up, due to slow infrastructure,  lack of funds or political issues.

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