OPEC Nudges Output Higher - But Markets Are Awaiting the Real Barrels ...Middle East

OPEC oil production ticked up by 270,000 barrels per day (bpd) in June, led by Saudi Arabia and the UAE, according to the latest Reuters survey. The group’s total output hit 27.02 million bpd last month as members began unwinding voluntary cuts. But the real story isn’t what’s on paper—it’s what’s actually flowing. Saudi Arabia accounted for 200,000 bpd of the increase, while the UAE added 100,000 bpd—both still technically pumping below their formal quotas. Iraq, under pressure for previous overproduction,…

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