BBG Survey: OPEC's output rose to the highest this year in June

According to a Bloomberg News survey of analysts, oil companies and ship-tracking data, the OPEC producers boosted their output by 260,000 bpd, when compared with May.

Key findings from the survey:

Half the increase came from Libya and Nigeria, which are exempt from the OPEC and non-OPEC output cut deal.

OPEC’s biggest producer Saudi Arabia increased output by 90,000 barrels a day in June, while Angola and the UAE both lifted production by 40,000 barrels a day from May.

The addition of Equatorial Guinea’s 150,000 barrels a day of output increased the cartel’s total June production to 32.55 million barrels a day.