Latest Reuters oil survey numbers for OPEC

  • Output rises 31.60mbpd vs 31.30mbpd in May. Highest since June 2012
  • Saudi's pump 10.35mbpd and maintain record output rate
  • Iraq leads the rise
  • Falls seen in Libya, Angola

No signs of the spigots being turned off anytime soon as OPEC members keep on pumping

Brent crude is up on the day but has taken a little dive on the news

Brent crude daily

Brent is finding it tough at the 62.90/63.00 level, while 61.30 is showing as decent support