Radical OPEC Members Cheat the Most

The most most radical members of OPEC are cheating on quotas.

Brothers Hahmoud and Hugo.
MEMRI Blog reported:

OPEC boosted production last month by about 1 million barrels a day for a total of 25.812 million b/d, in violation of supply cuts approved by the cartel to stem falling prices.

Iran, Angola, and Venezuela exceeded their quotas most. Iran pumped 3.75 million b/d last month, more than 400,000 b/d above its official ceiling of 3.336 million b/d. Venezuela exceeded its official ceiling by about 165,000 b/d.

[In other words, the two most radical members of OPEC that often call for production cuts account for 58% of the excess production.]
You Might Like


As a privately owned web site, we reserve the right to edit or remove comments that contain spam, advertising, vulgarity, threats of violence, racism, anti-Semitism, or personal/abusive attacks on other users. The same applies to trolling, the use of multiple aliases, or just generally being a jerk. Enforcement of this policy is at the sole discretion of the site administrators and repeat offenders may be blocked or permanently banned without warning. Guest posting is disabled for security reasons.

You Might Like