RPT-COLUMN-Oil market enters post-OPEC era: Kemp | Reuters:
Saudi Arabia and Russia started to raise their oil production several weeks before the formal decision to increase output was taken by OPEC and its allies towards the end of June.
Saudi Arabia increased its production to 10.49 million barrels per day (bpd) in June from 10.03 million in May and 9.87 million bpd in April, according to government data submitted to OPEC (tmsnrt.rs/2M7dhH5).
Russia’s Rosneft also started to raise output from late May, anticipating a relaxation of the supply curbs, according to an investor presentation released with the company’s second-quarter results on Tuesday.
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