OPEC’s oil production increased sharply in June, primarily because Saudi Arabia continued to unwind its voluntary production cut. Output should rise further in July on the back of larger quotas, and we expect high prices to incentivise more production from the group even without a formal agreement to do so.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services