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Decreased production of ten countries in OPEC, including Iraq
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Economy News _ Baghdad
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Added 12/14/2022 - 10:28 AM
Updated 12/14/2022 - 2:17 PM
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Economy News _ Baghdad
OPEC announced today, Wednesday, that the oil production of the 13 member states of the organization decreased to 28.826 million barrels per day, a decrease of 744 thousand barrels per day from last November, after the decrease in production from Iraq and nine other countries.
According to the monthly report of the Organization of Petroleum Exporting Countries, which was seen by Al-Iqtisad News, “the largest declines came first from Saudi Arabia, as its oil production decreased by about 404 thousand barrels per day, to reach 10.474 million barrels, followed by the UAE, with a decrease of 149 thousand barrels per day, followed by Kuwait, with a decrease of 121 thousand barrels.” per day, followed by Iraq, with a decrease of 117 thousand barrels per day, bringing its production to 4.465 million barrels.
The organization indicated that "the increases came from Nigeria, as its oil production increased by about 92 thousand barrels per day to reach 1.158 million barrels per day, followed by Angola to 38 thousand barrels per day."
OPEC maintained its forecast for global oil demand growth in 2022 and 2023, stating that the economic slowdown was quite evident, but there was a potential upside, such as the easing of China's "zero-Covid" policy.
Views 77
Added 12/14/2022 - 10:28 AM
Updated 12/14/2022 - 2:17 PM
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