As agreed in April, OPEC opened the taps in the second quarter of the year to meet a rebound in global oil demand, boosting crude production by 855,000 barrels per day (bpd) in June, the largest output hike in a year, a Bloomberg survey found on Friday. The 13-member organization raised its production to 26.47 million bpd last month, up by 855,000 bpd compared to May, according to the survey based on ship-tracking data, information from officials, and estimates from energy consultancies. Saudi Arabia, OPEC’s top producer and the world’s top exporter, accounted for more than half of June’s production increase as it hiked its output by 490,000 bpd to 8.95 million bpd, the Bloomberg survey showed. As per the OPEC+ group’s decision from early April, the collective OPEC+ oil production was set to rise by 350,000 bpd in both May and June and by more than 400,000 bpd […]