(Read the full article on turan.az)

OPEC+ countries increased production in June 2021 by 500 thousand b/d, but still exceeded the deal, follows from the report of the International Energy Agency (IEA), TURAN reported.

According to the report, the OPEC + alliance in June again fulfilled a deal to limit oil production by 114%, including OPEC countries by 123%, and non-OPEC countries by 97%.

“Overall compliance with oil cut commitments in June remained high at 114% as producers in the Middle East, including Iraq, produced oil below targets raised under the OPEC + deal,” the report said.

For July, the restrictions are 5.76 million barrels per day. Production quotas in August are still at current levels, as OPEC + at the beginning of July was unable to agree on further terms of the deal due to the position of the UAE. A new meeting of the alliance has not yet been scheduled.