Press "Enter" to skip to content

OPEC: Iraq Records The Lowest Increase In Its Oil Production Last Month

Baghdad "OPEC" announced that Iraq recorded the lowest increase in its oil production among the nine countries that raised their oil production last October.

The organization said in a report, that "the production of oil from the 13 member countries of the Organization of the Petroleum Exporting Countries rose by about 217,000 barrels per day during the past month, to reach 27.453 million barrels per day, supported by increased supplies from nine countries, including Iraq."

It added that "the largest increases came from Saudi Arabia, as its oil production rose by 110 thousand barrels per day, to reach 9.750 million barrels per day, and Venezuela's production also increased, recording an increase of 57 thousand barrels per day, bringing its production to 590 thousand barrels per day."

It explained that "the UAE came third, with an increase of 38,000 barrels, to reach a production of 2.828 million barrels per day."

It added, "The rest of the countries had a small increase, as Kuwait recorded an increase of 32,000 barrels per day, and Congo, Libya, Iran and Algeria recorded increases in oil supplies last month, ranging from 10 to 15 thousand barrels per day."

The OPEC report indicated that "Iraq recorded the lowest increase in its oil production for the month of December, by 7,000 barrels per day, to reach 4.149 million barrels per day, compared to last September, in which production amounted to 4.142 million barrels per day."

The organization noted a decline in oil production in 4 OPEC countries last month,: Nigeria by 45 thousand barrels per day, the oil production in Gabon by 17 thousand barrels per day, Equatorial Guinea by 13 thousand barrels per day, and Angola’s production slightly decreased by one thousand barrels per day. ".

The Organization of Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabie Lite (Gabon), Heavy Iran (Islamic Republic of Iran) Iran ), Basra light (Iraq), Kuwait Export (Kuwait), Es Sidr (Libya), Pune Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela).

Source: National Iraqi News Agency