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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Crude oil production from OPEC and its Russia-led allies rebounded modestly in May from a steep drop in April but remains well short of its collective quotas according to the latest Platts survey.
- OPEC's 13 members pumped 28.62 million b/d in May, down 180,000 b/d from April, including major losses in Nigeria and Libya, while nine other countries partnering with the producer group added 13.08 million b/d, a rise of 300,000 b/d, led by gains in Russia and Kazakhstan, the survey found.
- That is a net 120,000 b/d gain in the month by the entire OPEC+ alliance.
- With production quotas rising monthly under the OPEC+ agreement, the group underproduced its target by 2.616 million b/d, with compliance at a lofty 182.5% based on Platts calculations.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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