Money Talks

OPEC+ oil cartel missed daily production target in July

The world's top oil producers continue to pump out less than they've promised, putting immense strain on economies big and small. According to a survey by data firm Argus, the international oil cartel OPEC+ was able to raise production by half a million barrels a day in July. But almost all of those extra barrels came from Saudi Arabia, the group's top producer and de facto leader. And as a whole, the alliance's output was still, on average, almost 3M barrels short of the daily target. Meanwhile, in the UK, data released on Friday showed the cost of living crisis there led to a 0.6% contraction in GDP in June. For more, let's hear from Danni Hewson, financial analyst at AJ Bell in the UK. She gave us her reaction to the economic data out of Britain. #OPEC #OilSupply #UKEconomy

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