Saudi Arabia, Nigeria, Libya undermining OPEC’s deal

Saudi Arabia, Nigeria, Libya undermining OPEC’s deal

The sharp increase in crude oil output from Libya and Nigeria led to a decline in OPEC’s compliance rate to just 78 percent in the month of June 2017, down from 95 percent in the previous month. Saudi Arabia also increased its production by120,000 barrels per day (bpd) in the same period. According to IEA…

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