The Organization of Petroleum Exporting Countries (OPEC) announced that the oil production of the 13 member states of the organization decreased last April by 191 thousand barrels per day, to reach 28,603 million barrels per day compared to last March, due to the decrease in production in Iraq and Nigeria.
The report issued by the organization for the current month revealed that “the largest declines came first from Iraq, as oil production decreased by about 203 thousand barrels per day, to reach 4.139 million barrels per day, after it was 4.342 million barrels last March, then Nigeria, with a decrease of 170 thousand barrels per day to reach 1.180 million barrels per day, and Kuwait and Libya, down 26 and 24 thousand barrels, respectively.
The report indicated that “the countries with the highest increase in their oil production for the month of April were Saudi Arabia, with an increase of 95,000 barrels per day, followed by Angola, with an increase of 79,000 barrels per day, and then Venezuela, with an increase of 24,000 barrels per day.”
OPEC expected, in its report for the month of May, that global oil demand growth would decrease by 500,000 barrels per day in 2023.
Source: National Iraqi News Agency