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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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    Iraqi production raises OPEC+ crude oil production in a month

    Rocky
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    Iraqi production raises OPEC+ crude oil production in a month Empty Iraqi production raises OPEC+ crude oil production in a month

    Post by Rocky Sun 14 Jan 2024, 4:39 am

    Iraqi production raises OPEC+ crude oil production in a month

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    Economy News _ Baghdad
    OPEC+ crude oil production rose by 130,000 bpd month-on-month in December to 42.73 million bpd, driven by output increases in Iraq, as well as the group's largest African producers, according to the latest Platts survey by S&P Global Commodity Insights.
    The 13 OPEC members produced 27.98 million barrels per day, an increase of 160,000 barrels per day from November, while its ten non-OPEC allies, led by Russia, produced 14.75 million barrels per day, a decrease of 30,000 barrels per day during the month.
    The survey found that OPEC's largest, Saudi Arabia, which has led the coalition's push for production discipline, continues to keep its output at its lowest level since the height of the pandemic, pumping 8.95 million barrels per day in December, while Russia has kept its output steady at 9.43 million barrels per day. Both are just below production quotas under the recent OPEC+ agreement.
    But this discipline was offset by an increase of 60,000 barrels per day from Iraq, which is witnessing increasing production from the Kurdistan Region, as well as high domestic crude oil consumption for power generation. Iraq's production of 4.35 million barrels per day in December was well above its quota of 4.22 million barrels per day, and its usual non-compliance has led to demands from other members for tighter quota enforcement.
     


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