OPEC Output Remains Firm Amidst Price Turbulence

OPEC production in June stayed at around recent strong levels, despite a continued fall in Iranian output and a drop in Iraq exports. OPEC Basket crude prices recovered somewhat from their 18-month low of $88.74/B on 22 June, but fundamentals remain bearish prompting some OPEC ministers to call for an emergency meeting.


Price hawks Iran, Venezuela, Algeria and Iraq have all called...