Reuters Survey: OPEC Output Down 460,00 BPD This Month

A Reuters survey on Wednesday shows a drop in OPEC oil output for May following voluntary production cuts by OPEC+ said to help support the market. According to the survey, OPEC production was down 460,000 barrels per day from April, and down more than 1.5 million bpd from September, though increases by some OPEC+ members counterbalanced that drop in output. Six OPEC members in May voluntarily agreed to cut 1.04 million bpd in addition to the already-existing 1.27 million bpd. The survey comes after Moscow stated last week that OPEC+ would not…