OPEC+ Plans Faster Rollback of Output Cuts ...Middle East

OPEC+ could bring back 2.2 million barrels daily in supply by November this year in an apparent acceleration of the rollback of its production cuts, per a Reuters report citing unnamed sources from the cartel. The source said that essentially Saudi Arabia has become fed up with quota laggards Iraq and Kazakhstan and was planning to tighten their screws by unleashing more barrels to undermine their oil revenues. The report, which comes on the heels of OPEC+’s latest meeting, this Saturday, at which the group agreed to add another 411,000 bpd…

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