OPEC June Output Rises as Members Fill in for Iraq Loss
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OPEC crude production climbed for a second month in June as gains in Saudi Arabia and Nigeria made up for the loss of Iraqi barrels, a Bloomberg survey showed.
Production by the 12-member Organization of Petroleum Exporting Countries rose by 278,000 barrels a day to 30.223 million, according to the survey of oil companies, producers and analysts. Last month’s total was revised 43,000 barrels a day lower to 29.945 million because of changes to the Kuwaiti, Libyan and Ecuadorian estimates.