* Record OPEC+ oil supply cut took effect on May 1
* Saudi Arabia, Gulf allies boost supply close to quota
levels
Iraq, Nigeria yet to fully comply
* Production by country: By Alex Lawler
LONDON, July 31 (Reuters) - OPEC oil output has risen by
over 1 million barrels per day (bpd) in July as Saudi Arabia and
other Gulf members ended their voluntary extra supply curbs on
top of an OPEC-led deal, and other members made limited progress
on compliance.
The 13-member Organization of the Petroleum Exporting
Countries pumped 23.32 million bpd on average in June, the
survey found, up 970,000 bpd from June's revised figure, which
was the lowest since 1991.
OPEC and allies agreed in April to a record output cut as
the coronavirus crisis hammered demand.
An easing of lockdowns and lower supply have helped oil
LCOc1 climb above $40 from April's 21-year low of below $16 a
barrel, although concerns of a second wave are keeping a lid on
gains.
"Upside potential will continue to be in short supply so
long as the COVID hangover lingers," said Stephen Brennock of
oil broker PVM.
OPEC, Russia and other producers, a group known as OPEC+,
agreed to cuts of 9.7 million bpd, or 10% of global output, from
May 1. OPEC's share, to be made by 10 members from October 2018
levels in the case of most countries, is 6.084 million bpd.
In July, they delivered 5.743 million bpd of the pledged
reduction, equal to 94% compliance, the survey found. Compliance
in June was revised up to 111%.
THREE-DECADE LOW
July's increase is the biggest since April, when OPEC
briefly pumped at will before the latest supply cut was agreed.
To further support the market, Saudi Arabia, Kuwait and the
United Arab Emirates had pledged to cut by an extra 1.18 million
bpd in June only. This helped curb output last month to OPEC's lowest since
1991, excluding membership changes, based on Reuters surveys and
OPEC figures. PRODN-TOTAL
The biggest rise in supply in July came from Saudi Arabia,
which pumped 8.4 million bpd, up 850,000 bpd from June and close
to its quota, the survey found.
The United Arab Emirates and Kuwait also boosted output
close to their targets.
Iraq and Nigeria, which boosted compliance in June and were
laggards in previous OPEC+ deals, did not make any further cuts
in July, the survey found, with Iraq boosting exports. Both have
pledged to make additional reductions in later months.
"The low prices are making life difficult for those OPEC
countries that are required to cut their production
additionally," said Eugen Weinberg, analyst at Commerzbank.
Iranian and Libyan supply held steady in July and Venezuelan
output dropped further. All three are exempt from voluntary cuts
because of U.S. sanctions or internal issues limiting output.
Libyan output has plunged since January due to a blockade of
ports and fields by groups loyal to eastern-based commander
Khalifa Haftar.
The Reuters survey aims to track supply to the market and is
based on shipping data provided by external sources, Refinitiv
Eikon flows data, information from tanker-trackers such as
Petro-Logistics and Kpler, and information provided by sources
at oil companies, OPEC and consultants.
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OPEC oil supply cuts - March 2019 https://tmsnrt.rs/2CI42Y7
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