Despite the production gains, the looser quotas meant OPEC+ compliance stayed mostly steady at 111.45% compared to 111.16% in April,

Overall conformity to the production adjustments was 114% in April (including Mexico), ... to gradually return 2 million barrels a day (mb/d) of the adjustments to the market, with the pace being determined according to market conditions.

The five-year average for week 19 is about flat with the most recent week at about 12.3 million st. Over 19 weeks, production was about 207 million st, up 3.3% from the year-ago period.

Preliminary production figures for March 2021 show an average daily production of 2 094 000 barrels of oil, NGL and condensate.

Total industrial production increased 0.7 percent in April. The indexes for mining and utilities increased 0.7 percent and 2.6 percent, respectively; the index for manufacturing rose 0.4 percent despite a drop in motor vehicle assemblies that principally resulted from shortages of semiconductors.

Crude oil production from the major US onshore regions is forecast to increase 26,000 b/d month-over-month in June 2021 from 7,707 to 7,733 thousand barrels/day, gas production to decrease 53 million cubic feet/day from 83,624 to 83,571 million cubic feet/day .

Daily average production was up 2% from 10.26 million b/d in March. Total output in March was 43.4 million mt. Increases in month-on-month output volumes in early 2021 reflect gradual increases in Russia's crude production quota agreed under the OPEC + deal from the beginning of the year.

OPEC+ officials said they see no reason to be alarmed, and the group's production is set to rise anyway.

Preliminary production figures for March 2021 show an average daily production of 2 094 000 barrels of oil, NGL and condensate.

The kingdom exported 5.63 million b/d in February, according to JODI data released April 19, down 957,000 b/d from January.