OPEC+ Boosts Oil Production Despite Vows to Cut

The OPEC+ group boosted its oil production in July and increased the overproduction above its implied target as the three producers that have pledged to compensate for exceeding quotas continued to pump well above their respective ceilings, according to the Platts OPEC+ survey from S&P Global Commodity Insights. OPEC+ saw its total crude oil production rise by 160,000 barrels per day (bpd) last month compared to June, to 41.03 million bpd, the Platts survey found.     That’s 437,000 bpd over the total target for July and…