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Chart of the Day: Russia, Iraq, and Kazakhstan are Showing Compliance by Lowering Crude Exports
Summary
This is an update on compliance among the three countries in OPEC+ that increased their production above production targets in the first seven months of the year. These countries promised to comply with production limits and to compensate for the earlier increases. Figure (1) shows trends in crude exports of Iraq, Russia, and Kazakhstan. The figure shows a declining trend in recent weeks, indicating efforts to comply.