Saudi Arabia expects deeper cuts from laggards in July-Sept

Non-complying OPEC+ members will cut output steeper than their quota in July-September after failing to deliver fully on pledged cuts for May-June, Saudi energy minister Prince Abdulaziz bin Salman told a news conference on Monday.

Answering a question about Iraq compliance and its pledges, Prince Abdulaziz said: "A country, without naming a name, has said ... they have only done 70% of their May numbers and said we will be only delivering 80% of our June numbers." Prince Abdulaziz did not say what will happen if countries with weak compliance fail to deliver on their promises from July onwards.