{"id":360245,"date":"2020-06-30T10:22:08","date_gmt":"2020-06-30T04:52:08","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=360245"},"modified":"2020-06-30T10:38:38","modified_gmt":"2020-06-30T05:08:38","slug":"opec-has-cut-oil-output-by-1-25-mbpd-in-june-says-petro-logistics","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-has-cut-oil-output-by-1-25-mbpd-in-june-says-petro-logistics\/","title":{"rendered":"OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies, according to estimates from tanker-tracking company Petro-Logistics. <\/p>\n<p>OPEC and its allies, a group known as OPEC+, agreed to cut supply by a record 9.7 million bpd from May 1 to offset an oil price and demand slump triggered by the coronavirus crisis. OPEC&#8217;s share of the cut is 6.084 million bpd. <\/p>\n<p>&#8220;Excluding Iran, Libya and Venezuela, which are not part of the curtailment agreement, OPEC-10 supply remains about 1.55 million bpd away from full compliance,&#8221; Petro-Logistics said in an email. <\/p>\n<p>&#8220;Iraq, Nigeria and Kuwait are the main countries that have lowered their supply since May, with more limited cuts by Saudi Arabia, the UAE and Angola.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies, according to estimates from tanker-tracking company Petro-Logistics. OPEC and its allies, a group known as OPEC+, agreed to cut supply by a record 9.7 million bpd from May 1 to offset an oil price and demand slump triggered by the coronavirus crisis. OPEC&#8217;s share of the cut is 6.084 million bpd. &#8220;Excluding Iran, Libya and Venezuela, which are not part of the curtailment agreement, OPEC-10 supply [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-360245","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=360245"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360245\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=360245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=360245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=360245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}