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2021-12-02 06:24
Iraq and Saudi Arabia are the countries that increased their oil production the most during a month
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2021-12-02 06:24
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Shafaq News/ A survey showed that Iraq and Saudi Arabia increased their oil production the most in November, indicating that OPEC's commitment to its pledges to reduce production rose to 120% in November.
The Reuters survey found that the Organization of the Petroleum Exporting Countries pumped 27.74 million barrels per day in November, an increase of 220,000 barrels per day from the previous month, but less than the increase of 254,000 allowed under the supply agreement.
The survey showed that "the commitment of the OPEC countries to the commitments to production cuts by the "OPEC +" group rose to 120% in November from 118% in the previous month."
The survey indicated that "Saudi Arabia raised its oil production in November by 110,000 barrels per day, to reach 9.890 million barrels per day, while Iraq raised its oil production by 70,000 barrels per day to reach 4.220 million barrels, compared to the month of October, which amounted to 4.150 million barrels per day." .
And he indicated that "Nigeria raised its production by 50 thousand barrels to reach 1,500 million barrels, and Kuwait raised its production by 30 thousand barrels to reach 2.530 million barrels, while the country with the most decline in its production was Angola, by 50 thousand barrels per day, preceded by Libya by 20 thousand barrels per day." .
The OPEC + alliance had approved an increase of 400,000 barrels per day in production in November, as part of a plan that began last August, with a monthly increase of about 400,000 barrels per day until next December, with a total increase of two million barrels within 5 months.
Next Thursday, OPEC and its allies are scheduled to announce their plan to respond to consumers after the release of their strategic oil reserves, whether by retracting plans to increase production or going back and reducing production again, especially with skepticism about the continuation of demand at its current level in light of the repercussions that may The economies of the countries of the world are exposed to it due to the new mutant of the Corona virus, “Omicron”.
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The Reuters survey found that the Organization of the Petroleum Exporting Countries pumped 27.74 million barrels per day in November, an increase of 220,000 barrels per day from the previous month, but less than the increase of 254,000 allowed under the supply agreement.
The survey showed that "the commitment of the OPEC countries to the commitments to production cuts by the "OPEC +" group rose to 120% in November from 118% in the previous month."
The survey indicated that "Saudi Arabia raised its oil production in November by 110,000 barrels per day, to reach 9.890 million barrels per day, while Iraq raised its oil production by 70,000 barrels per day to reach 4.220 million barrels, compared to the month of October, which amounted to 4.150 million barrels per day." .
And he indicated that "Nigeria raised its production by 50 thousand barrels to reach 1,500 million barrels, and Kuwait raised its production by 30 thousand barrels to reach 2.530 million barrels, while the country with the most decline in its production was Angola, by 50 thousand barrels per day, preceded by Libya by 20 thousand barrels per day." .
The OPEC + alliance had approved an increase of 400,000 barrels per day in production in November, as part of a plan that began last August, with a monthly increase of about 400,000 barrels per day until next December, with a total increase of two million barrels within 5 months.
Next Thursday, OPEC and its allies are scheduled to announce their plan to respond to consumers after the release of their strategic oil reserves, whether by retracting plans to increase production or going back and reducing production again, especially with skepticism about the continuation of demand at its current level in light of the repercussions that may The economies of the countries of the world are exposed to it due to the new mutant of the Corona virus, “Omicron”.
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