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OPEC+ production rises to its highest level in three months
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Economy News-Baghdad
OPEC and its allies led by Russia in June raised crude oil production by 390,000 barrels per day, but it did not reach its targets, which raised its compliance to 192 %.
According to a survey prepared by S&P Global Commodity Insights , the 13-member Organization of the Petroleum Exporting Countries (OPEC) pumped 28.13 million barrels per day in June, an increase of 210,000 barrels from May, with steady gains made by Saudi Arabia, Nigeria, Angola and the UAE, while allied countries produced The nine-member OPEC 13.26 million barrels per day, an increase of 180,000 barrels per day, amid the recovery of Russian oil, and thus the production of OPEC + rose to its highest level in three months at 42.09 million barrels per day in June .
The alliance fell short of its collective goals by 2.70 million barrels per day, while increasing compliance with quotas to 192% .
Iraq, the second largest producer in the Organization of Petroleum Exporting Countries (OPEC), witnessed a decline in its production to 4.38 million barrels per day in June despite the increase in federal exports, as data showed that flows from the Kurdistan Region declined, and the country decreased in a large part of its oil stocks. Raw in June . According to Shafak News.
Saudi Arabia raised its production to 10.55 million barrels per day in June, driven by an increase in summer crude burning .
However, the survey found that this is still about 110,000 b/d below its quota of 10.66 million b/d .
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Economy News-Baghdad
OPEC and its allies led by Russia in June raised crude oil production by 390,000 barrels per day, but it did not reach its targets, which raised its compliance to 192 %.
According to a survey prepared by S&P Global Commodity Insights , the 13-member Organization of the Petroleum Exporting Countries (OPEC) pumped 28.13 million barrels per day in June, an increase of 210,000 barrels from May, with steady gains made by Saudi Arabia, Nigeria, Angola and the UAE, while allied countries produced The nine-member OPEC 13.26 million barrels per day, an increase of 180,000 barrels per day, amid the recovery of Russian oil, and thus the production of OPEC + rose to its highest level in three months at 42.09 million barrels per day in June .
The alliance fell short of its collective goals by 2.70 million barrels per day, while increasing compliance with quotas to 192% .
Iraq, the second largest producer in the Organization of Petroleum Exporting Countries (OPEC), witnessed a decline in its production to 4.38 million barrels per day in June despite the increase in federal exports, as data showed that flows from the Kurdistan Region declined, and the country decreased in a large part of its oil stocks. Raw in June . According to Shafak News.
Saudi Arabia raised its production to 10.55 million barrels per day in June, driven by an increase in summer crude burning .
However, the survey found that this is still about 110,000 b/d below its quota of 10.66 million b/d .
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