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A Reuters survey found OPEC crude output rose by 280,000 barrels per day in June to a 2017 high. The increase came from recovering supply in exempt Nigeria and Libya, which offset strong compliance by other members.
Higher OPEC supply adds to global crude availability and is bearish for oil prices. Cheaper energy eases input costs across the feed chain over time.
reuters.comAlex LawlerJun 30, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
