Europe’s Insatiable Thirst For Natural Gas

1. OPEC+ Agrees on Lowest Monthly Increase in Years- In a move widely perceived as the undoing of the widely publicized Biden-MBS fist bump, OPEC+ has agreed to a 100,000 b/d production quota increase for September 2022. – The likelihood that the oil group will fulfill the output target seems somewhat slim, considering that members’ compliance rate stands at 320% as of June, equivalent to an underproduction rate of 2.85 million b/d. – Even though the likes of Saudi Arabia and UAE have acknowledged having issues with readily available spare…