OPEC Cheats: It Overproduces By 500,000 bpd

It's a universal truth. In cartels there are always cheaters. They solemnly vow to limit their production. The thinking: "That limits our income. We will produce 5% more." One does it; two do it. Here is a living example. OPEC's actual production compared to their production quota.

CARPE DIEM: OPEC Cheats: It Overproduces By 500,000 bpd:
"OPEC almost always cheats as a group. They over-produce by 500,000 barrels per day (bpd)."

See the chart at the link.