The ten OPEC members bound by the OPEC+ production agreement have increased their collective crude oil exports by more than 1 million barrels per day (bpd) so far in May, tanker tracker Petro-Logistics said on Friday. All crude oil exports from OPEC—including Iran, Venezuela, and Libya which are exempted from the OPEC+ pact—have increased by 500,000 bpd so far this month, Petro-Logistics noted in a tweet. However, a surge in Saudi Arabia’s oil exports has driven the exports of the OPEC+ pact participants at OPEC up by over 1 million bpd. Yet, the second half of May is expected to see lower Saudi crude oil exports, Petro-Logistics said. On Monday, the tanker-tracking firm said that OPEC’s oil exports had jumped by 1 million bpd, while the OPEC+ group started easing the production cuts by 350,000 bpd this month. At the ministerial meeting in early April, the OPEC+ group decided […]