OPEC+ countries continued to produce above the established quotas in June. It is significant that in June, Kazakhstan was the main violator among the OPEC+ countries: Kazakhstan's oil production in June amounted to 1.54 million b/d. At the same time, the quota for June for Kazakhstan under the OPEC+ deal was 1.468 million b/d. Thus, according to S&P Global Insight, Kazakhstan exceeded the OPEC+ quota by 72 thousand b/d in June. And this is after the country's promise to provide compensation for exceeding the quota, which was in the first 5 months of this year. When to expect compensation - the Bloomberg news agency is also asking this question.
Read more about this and the "Trumpian" risk to the oil market in the attached file.
