Seven OPEC+ countries produce 6.56 mln bpd below plan in June — report
According to OPEC data, seven OPEC+ countries voluntarily cutting output produced 22.988 million barrels per day in June 2026, missing their agreed target of 29.548 million bpd by 6.56 million bpd. Russia fell 834,000 bpd short of its quota, while Saudi Arabia, Iraq, and Kuwait recorded larger shortfalls. The compensation period for past overproduction was extended to end-December 2026, and August quotas were raised by 188,000 bpd.