OPEC+ Misses Production Target By Whopping 2.7 Million Bpd ...Middle East

OPEC continues to undershoot its oil production target in the OPEC+ deal, failing in April to boost output as much as required by the agreement. All 13 members of OPEC – including Iran, Libya, and Venezuela exempted from the OPEC+ deal – saw their production rise by just 153,000 barrels per day (bpd) collectively, to 28.648 million bpd in April, the organization’s Monthly Oil Market Report (MOMR) showed on Thursday. The top three OPEC producers, Saudi Arabia, Iraq and the UAE, saw the highest increases in their respective oil…

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