OPEC+ increases production by 1.2 mln bpd in June exceeding plan by 1.82 mln bpd — IEA
According to the International Energy Agency, the target production level of OPEC+ countries under the deal, taking into account voluntary reductions and compensations for overproduction, was 34.39 mln bpd in June, and real production reached 36.21 mln bpd
MOSCOW, July 11. /TASS/. OPEC+ countries participating in the agreement to reduce oil production increased output by 1.2 mln barrels per day (bpd) in June 2025 and exceeded the plan, taking into account voluntary restrictions and compensations, by 1.82 mln bpd, according to the July report by the International Energy Agency (IEA).
According to the IEA, the target production level of OPEC+ countries under the deal, taking into account voluntary reductions and compensations for overproduction, was 34.39 mln bpd in June, and real production reached 36.21 mln bpd. Thus, the volume of excess of the plan was at the level of about 1.82 mln bpd.
According to the IEA, in June, Saudi Arabia increased its oil production the most - by 710,000 bpd.
The highest overproduction in June was recorded in Kazakhstan (500,000 bpd above plan), Saudi Arabia (430,000 bpd above plan), Iraq (330,000 bpd above plan), the UAE (330,000 bpd above plan) and Kuwait (310,000 bpd above plan).