OPEC announced this afternoon its members will target 100% compliance with its 1.2 million barrels per day (MMBPD) reduction agreement — actually increasing daily production by 600,000 Bbls, since the cartel chopped an extra 600,000 BPD in May, Kallanish Energy reports.
What the EIA is saying today…..could be light at the end of the tunnel.
Today Reuters stated “EIA sees oil market rebalancing in 2017; US production at record high by 2021.”
