Saudi Data Change Allowed Riyadh to Meet OPEC Quota in June

Saudi Arabia managed to stick to its oil output quota last month because of a tweak to what the Organization of the Petroleum Exporting Countries counted as Riyadh’s production levels.

OPEC published its monthly production estimates for member countries on Tuesday, with one submitted by countries directly, and another drawn from a group of so-called secondary sources. The latter figure is closely watched by traders — and other nations within OPEC — because it offers an independent perspective of compliance with the group’s output quota levels.