OPEC members saw their crude oil production drop slightly in June, possibly due to lower output in Saudi Arabia and international sanctions against Iran
The monthly US Energy Information Administration (EIA) Short Term Energy Outlook said that members produced an average of 30.54 million barrels per day (bpd) of crude oil in June, a 1.2 per cent drop from the level seen in May.
Saudi Arabia saw its June average output drop to 9.7 million bpd from 9.8 million bpd in May.
Iran, which has seen its oil exports and foreign investment curtailed by a dispute with global powers over its attempts to develop a nuclear programme, produced 2.9 million bpd in June, down from 3.13 million in May.
OPEC's spare crude oil production capacity rose slightly to 2.4 million bpd in June, from 2.3 million bpd in May.
