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The production of the “OPEC +” group of crude oil decreased in January 2023, and estimates by the International Energy Agency showed that the level of production last month was below the permissible limit by 1.93 million barrels per day.
According to the monthly report of the International Energy Agency, the group's production fell on a monthly basis by 160 thousand barrels per day to 44.29 million barrels per day last January.
And the agency's report stated, "Oil production in all 23" OPEC + "countries decreased in January 2023 by 160,000 barrels per day to 44.29 million barrels per day, and Middle East producers topped the list of countries whose production decreased."
The report added that the production of the 19 OPEC members, who are restricted to production quotas, decreased last January by 170 thousand barrels per day to 38.18 million barrels per day.
Yesterday, OPEC increased its forecast for global oil demand for the year 2023, and attributed this to China's easing of restrictions related to Corona, which indicates the resumption of economic activities.
The Organization of "OPEC" said that global demand for oil will rise by 2.32 million barrels per day, or 2.3%, an increase of 100 thousand barrels per day from the previous month's expectations.
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[You must be registered and logged in to see this link.]
The production of the “OPEC +” group of crude oil decreased in January 2023, and estimates by the International Energy Agency showed that the level of production last month was below the permissible limit by 1.93 million barrels per day.
According to the monthly report of the International Energy Agency, the group's production fell on a monthly basis by 160 thousand barrels per day to 44.29 million barrels per day last January.
And the agency's report stated, "Oil production in all 23" OPEC + "countries decreased in January 2023 by 160,000 barrels per day to 44.29 million barrels per day, and Middle East producers topped the list of countries whose production decreased."
The report added that the production of the 19 OPEC members, who are restricted to production quotas, decreased last January by 170 thousand barrels per day to 38.18 million barrels per day.
Yesterday, OPEC increased its forecast for global oil demand for the year 2023, and attributed this to China's easing of restrictions related to Corona, which indicates the resumption of economic activities.
The Organization of "OPEC" said that global demand for oil will rise by 2.32 million barrels per day, or 2.3%, an increase of 100 thousand barrels per day from the previous month's expectations.
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