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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    OPEC production rises 201 thousand barrels per day in March

    Rocky
    Rocky
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      OPEC production rises 201 thousand barrels per day in March Empty OPEC production rises 201 thousand barrels per day in March

    Post by Rocky Wed 14 Apr 2021, 7:57 am

      OPEC production rises 201 thousand barrels per day in March

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    The Organization of Petroleum Producing Countries "OPEC" said that the production of members of the organization (13 members) increased by 201 thousand barrels per day on a monthly basis during last March, in light of a significant increase in production from Iran.
    The organization indicated in its monthly report that its production rose to 25.042 million barrels per day during the past month, compared with 24.842 million barrels per day in the previous February.
    The report showed that Iran increased its oil production by 137 thousand barrels per day, to 2.3 million barrels, compared to 2.167 million barrels in the previous February.
    Iran is trying to increase its crude oil production amid international efforts to revive the nuclear deal with the administration of US President Joe Biden, and to lift sanctions on Tehran.
    Seven other countries raised their production in marginal increases, ranging from 1,000 to 40,000 barrels per day.
    Angola raised its production by 40 thousand barrels to 1.1 million barrels per day, then Libya by 26 thousand barrels per day to 1.19 million barrels per day.
    As for Saudi Arabia, the largest oil producer in OPEC, it reduced its production by 33 thousand barrels per day during the past month, to 8 million and 90 thousand barrels per day, compared to 8 million and 123 thousand barrels per day in the previous February.
    Saudi Arabia had made a record reduction of 930 thousand barrels per day during the previous February, in light of its commitment to the voluntary reduction within the "OPEC +" agreement.
    3 other countries reduced their production, including Kuwait by 6 thousand barrels to 2.32 million barrels, and Algeria by two thousand barrels to 873 thousand barrels per day.
    The report monitored a marginal reduction in the UAE’s production by only one thousand barrels per day, to record 2.61 million barrels per day.
    And at the beginning of this month, the alliance, which includes members of the "OPEC" organization as well as independent producers led by Russia, agreed to ease production restrictions by 350 thousand barrels per day in May to stabilize the production cut at about 6.7 million barrels per day.
    The coalition will implement another easing of production cuts in June by another 350,000 barrels per day to 6,350 million barrels per day.
    Following that, another easing of 400,000 b / d to 5.95 million b / d in July.

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