OPEC Pumping Additional 2M bpd

Oil-exporting cartel OPEC has increased production by 2 million barrels per day (bpd) since mid-March, leaving global markets well supplied heading into the second half of the year, the group’s president said Monday.

The Organization of the Petroleum Exporting Countries is pumping at 25-year highs, with the extra supplies pushing world oil prices below $50 a barrel.
CNN Money