OPEC+ laggards… Bloomberg – Commodity Research Group

June 5, 2020 by Jim Colburn Leave a Comment

Javier Blas and Grant Smith, Bloomberg, discuss the tentative OPEC+ deal, here… Iraq and others have not complied with assigned cutbacks…

”Iraq made less than half of its assigned cutbacks last month, so compensating fully would require it to slash production by a further 24% to about 3.28 million barrels a day, according to Bloomberg calculations. That would be a tall order. Three other nations — Angola, Kazakhstan and Nigeria — also produced above their OPEC+ quotas in May. The three pledged on Thursday to bring their output in line with the agreement.“

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