OPEP surge down 31% in June

According to the latest report of the Monitoring Committee, the OPEC + countries that signed the Vienna Agreement reached a 121% compliance rate at the end of June.
Which implies a decline of 31% if it is taken into account that the compliance of May was 152%.

In the document, the Committee declared "satisfied" with the results, so that by the end of July, the reduction in production will not be reached more than 100%
The committee agreed to meet monthly to carefully observe the market situation in order to "take a closer look at the market and approve the recommendations for control measures," they argue.

The next meeting will be held by videoconference on August 20.
Low for August
Saudi Arabia expects its crude oil exports to drop by nearly 100,000 barrels a day in August, as the kingdom tries not to add oil to the market beyond the needs of its customers, said Thursday. the Saudi governor.
Adeeb Al-Aama, i reported in a statement that the volume of oil deliveries from Saudi Arabia for July would be almost equivalent to June levels.

The official asserted that Saudi policy is "to work to satisfy the needs of its customers", while respecting the supply agreements to which the members of the organization have committed themselves. OPEC and external allies. of the group.

The statement indicates that, although international oil markets are balanced in the third quarter, substantial stocks would be reduced because of robust seasonal demand.

In one way or another, these statements by Governor Al-Aama pave the way for the re-establishment of internal communication between Saudi Arabia and the United States. Iran, very tense in recent weeks clipping

As will be recalled this week, the Iranian Minister of Energy, Bjan Zangané, wrote a letter to his counterpart Khalid al-Falih on the inadequacy of making unilateral decisions in this regard.
Zangane also called for the unification of criteria within the OPEC.