Here’s the latest OPEC report
– Saudi’s tell OPEC it pumped 10.26mbpd, +40k from March
– Secondary sources says OPEC output rose 188k to 32.44mbpd
One of main reasons why OPEC, and particularly the Saudi’s keep pumping is that they think the demand will be there further out, or so they say. Given the global slump that looks a long shot, and meanwhile stocks keep rising.