OPEC+ Increases June Oil Output by 188,000 BPD as UAE Data Shifts

OPEC+ increased its total crude oil production by 188,000 barrels per day (bpd) in June, reaching an average of 40.8 million bpd. The growth was led primarily by production hikes in Libya and Nigeria, occurring during the first month following the United Arab Emirates’ exclusion from the group’s official production calculation data. Production Gains and Regional Shifts According to the latest monthly market report, Libya saw the largest output increase, adding 56,000 bpd to reach a total of 1.2 million bpd. Nigeria followed with an increase of 42,000 bpd. These gains offset declines in other member states, including Saudi Arabia, which reduced its output by 25,000 bpd during the same period to average 8.94 million bpd. The June data represents a technical shift in how the alliance reports figures. The UAE’s production is no longer included in the collective total following a revised agreement regarding baseline capacities and voluntary cuts. Despite the UAE's absence from the reported data set, the alliance maintained its broader strategy of managing supply to stabilize global energy prices. Compliance and Market Impact Secondary sources indicate that total production from the 12…