Highlights Iraq, Kazakhstan submit plans to make up for overproduction OPEC+ still awaiting cut schedules from Nigeria, Angola Loading programs suggest cuts are in the works London — OPEC+ crude oil production could fall by about 1 million b/d in July and August from May levels, based on plans submitted by Iraq and Kazakhstan to institute deeper output cuts to make up for violating their quotas and loading schedules issued by fellow compliance laggards Nigeria and Angola. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Those four countries have borne the brunt of criticism from their OPEC+ counterparts for pumping above their agreed caps in a historic supply accord aimed at shoring up the oil market’s nascent recovery from the COVID-19 pandemic. Under the terms of the deal, countries that overproduced must compensate for their excess by making extra cuts below their quotas in July, […]