Saudi Arabia's Production Increase Sparks Credibility Concerns

After two years of playing the role of OPEC+ model citizen, Saudi Arabia has decided it’s time to loosen the tie—at least according to the IEA. According to the International Energy Agency, the Kingdom overshot its June production quota by a whopping 700,000 barrels per day, pumping 9.8 million bpd—the highest in two years.  OPEC's official production figures are due Tuesday, and some analysts have already suggested they’ll show near-perfect compliance. But speculating about manipulated data before it’s released…