OPEC+ May Production Falls Short of Target

June 29, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Here are some of the most important stories in and around the refining business for this week as researched for the IIR/DOE report for the week ending June 24:

• OPEC+ pumped about 3 million barrels per day (BBL/d) less than its 42 million-BBL/d production target for May, and as the cartel's ministers gather for a meeting this week, it appears Saudi Arabia and the United Arab Emirates have limited spare production capacity. That news helped push up WTI prices 10% over the last week.
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