The oil supply summary monthly report provides analysis on short-term global oil supply through 2019. The written document is accompanied by a related excel data download. Faced with an uncertain supply outlook for Iran, Venezuela and Libya, and mounting pressure from the US government to address 'high' prices, OPEC and Russia delivered a clever compromise at their recent meeting in Vienna. They decided to return to the agreed compliance of 100% from the November 2016 agreement, way below the current 152% compliance recorded in May. This brings back about one million b/d to the market by end-2018. Those OPEC members who can – namely Saudi Arabia, Kuwait and the UAE – supported by non-OPEC partners including Russia, will increase production to offset those whose output has fallen below their agreed level.