The world’s major oil producers, including Gulf nations, continued export cuts last month.
In June, the Organization of the Petroleum Exporting Countries (OPEC) cut oil exports by 1.84 million barrels per day compared with May, Reuters reported today. This follows the record 9.7 million barrels per day supply cuts in May. OPEC’s exports averaged 17.2 million barrels per day in June. Production was also down by 1.92 million barrels per day during the month, according to the outlet.
