4 days ago
OPEC Says Output Hike Tempered by Compensation From Quota Cheats
Key OPEC+ nations added less oil to the market last month than the headline figure of its output plan, as the cartel's leadership pushed members to atone for earlier over-production.
The eight members involved in the group's current accord raised production by 154,000 barrels a day, compared with a headline increase of 411,000 barrels a day, according to a monthly report from OPEC's secretariat. Iraq, the United Arab Emirates and Russia were among those compensating for past excess output.
