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Platts Survey: OPEC Missed its June Target of 30,000 barrels Per Day

Posted on 21 July 2014

Oil production from the Mideast-dominated Organization of the Petroleum Exporting Countries (OPEC) dipped by 30,000 barrels per day (b/d) in June to 29.94 million b/d, according to the latest Platts survey of OPEC plus industry officials and analysts. The survey showed Iraq’s output plunge of 160,000 b/d in some war-torn areas was largely offset by production increases from several other OPEC member countries.
“Small though it may be, a dip in OPEC output is the last thing the consuming world wants to see,” said John Kingston, Platts global director of news. “OPEC had seen the call on its crude averaging 30.4 million b/d in the second half of this year, so any drop in production from the organization – even an involuntary one – could be viewed as a move in the wrong direction,” King added………………………………………..Full Article: Source


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