OPEC OIL UP 170 000
OPEC pumped 31.28 million barrels per day in June, the fourth straight month since February that the group has added production.
OPEC's production grew by 170,000 bpd in from May to June, thanks to production spikes in Saudi Arabia and Iraq.
This is the highest monthly level since August 2012, when the survey estimated output at 31.54 million b/d. At that point, output was on the way down. Now, output seems to be on the way up, and at a time when the market could be looking at a lot more oil from Iran.
The group reaffirmed its previous 30 million…
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