OPEC cutbacks fail to reach target in June - Bloomberg

Eren Sengezer FXStreet

According to a recent report by Bloomberg, OPEC nations including Iraq, Kuwait, U.A.E, and Algeria, failed to reach their pledged output cut level June, holding the total OPEC production at 95%. Non-OPEC producers, Russia, Kazakhstan, Mexico, and Sudan, which are also included in the deal, exceeded their quotas as well.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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