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. Last Updated: 07/27/2016

OPEC Compliance Up




LONDON -- OPEC oil exporters in June tightened their compliance with output restrictions, helping push oil prices to 18-month highs this week, a Reuters survey found.


The Organization of Petroleum Exporting Countries reduced output in June by 290,000 barrels a day to 25.85 million from 26.14 million in May, according to the survey of OPEC and industry officials, analysts and consultants.


The June estimates show compliance with supply limits among 10 OPEC members, excluding Iraq, at 89 percent from 85 percent in May.