According to the latest S&P Global Platts OPEC survey released July 6, 2017, OPEC’s crude oil output increased by approximately 500,000 BOPD within the last two months, pushing the organization’s total output to 32.49 MMBOPD.

OPEC’s June output was 220,000 BOPD larger than May’s output, Platts said.

Rises in production from Libya and Nigeria assisted in keeping the organization’s output approximately 600,000 BOPD higher than its intended production ceiling of 31.9 MMBOPD—counting New Guinea and removing Indonesia.

The rise in output comes at a time when OPEC’s production cut compliance level is at 116%, made possible by excess cuts by Saudi Arabia and seven other countries. Despite the promising compliance of OPEC countries subject to quotas, production increases from Libya and Nigeria pushed production over the intended ceiling.

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