OPEC's July oil output rises, survey shows

The Organization of the Petroleum Exporting Countries (OPEC) increased crude oil production by 100,000 barrels per day to 28.57 million barrels a day in July, according to a Platts survey of OPEC and oil industry officials and analysts. This is an increase from the 28.47 million barrels a day pumped in June, Platts said in a statement on Friday.
OPEC production had already risen in April, May and June after having fallen steadily since August 2008. “OPEC appears to be fairly relaxed now about its output restraint measures, with the level of compliance now below 70%,” said John Kingston, Platts global director of oil.

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