Reuters survey:
- July OPEC output 29.42 million barrels per day, down 280K from June
- Saudi Arabia cuts. Kuwait and UAE pump more
- Saudi Arabia 9.65mbpd vs 9.8mbpd prior month
- UAE 3.068mbpd vs 3.046mbpd
- Iran 2.10mbpd vs 2.15mbpd prior
- Nigeria 1.80mbpd vs 1.86mbpd
It looks like Nigeria might be falling into line with the OPEC baseline but still has another 60K bpd to go. Saudi Arabia is now producing nearly 1 million barrels per day less than pledged.
