Crude oil futures were lower during mid-morning trade in Asia Tuesday following a survey that showed that OPEC compliance to its production cut deal was lower in June, while market participants continue to watch out for ongoing geopolitical tensions in the Middle East. At 11:05 am Singapore time (0305 GMT), front-month ICE Brent September futures was down 24 cents/b (0.37%) from Monday’s settle at $63.87/b, while the NYMEX August light sweet crude futures contract was 20 cents/b (0.35%) lower at $57.46/b. OPEC’s compliance with its production quotas fell sharply in June, as output gains in the month by Saudi Arabia and Nigeria, along with Iraq’s continued flouting of its cap, shrank the bloc’s margin for remaining within the bounds of its supply cut agreement, according to an S&P Global Platts survey of industry […]