OPEC’s Oil Production Continues to Rise Despite OPEC+ Pledges

Higher production in Nigeria and Iran boosted OPEC’s oil production in June for a second month in a row, according to the monthly Reuters survey published on Tuesday. OPEC’s all 12 producers pumped 26.7 million barrels per day (bpd) of crude oil in June, up by 70,000 bpd compared to May, found the survey, which tracks supply to the market and is based on information provided by industry sources and shipping data. Nigeria increased its oil production by an estimated 50,000 bpd last month, as Africa’s top oil producer…