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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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    Led by Iraq, OPEC oil production rose by 73 thousand barrels per day in December

    Rocky
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    Led by Iraq, OPEC oil production rose by 73 thousand barrels per day in December Empty Led by Iraq, OPEC oil production rose by 73 thousand barrels per day in December

    Post by Rocky Thu Jan 18, 2024 6:18 am

    [size=35][size=35]Led by Iraq, OPEC oil production rose by 73 thousand barrels per day in December[/size][/size]
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    Economy

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    01-18-2024 | 01:57
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    Al-Sumaria News - Economy

    OPEC oil production increased in December 2023, by about 73 thousand barrels per day, even with the continuation of voluntary cuts and the OPEC+ alliance policy to reduce supplies, according to a report published by the Energy Research Unit.


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    The monthly report issued by the Organization of Petroleum Exporting Countries showed that total oil production in the 12 OPEC member states increased to 26.700 million barrels per day during the past month, compared to 26.628 million barrels per day in November 2023.



    The increase in OPEC oil production in December 2023 came despite the OPEC+ alliance agreement to reduce supplies by two million barrels per day from November 2022 until the end of 2024, as well as voluntary cuts, according to the Energy Research Unit.

    It is noteworthy that 8 countries from the OPEC+ alliance, led by Saudi Arabia, have announced voluntary supply cuts, totaling 2.191 million barrels per day, during the first quarter of 2024. It is worth

    noting that this is the first monthly report issued by OPEC after the withdrawal of Angola at the end of last year (2023). .

    *OPEC oil production in December
    OPEC oil production rose in December 2023, by 5 countries, led by Iraq and Nigeria.
     
    Nigeria's crude oil production rose by about 100,000 barrels per day on a monthly basis, bringing the total to 1.418 million barrels per day over the past month.

    Iraq's crude oil production also increased by about 23 thousand barrels per day, bringing the total to 4.292 million barrels per day during the past month.

    While Venezuela's crude production rose by about 7,000 barrels per day, bringing the total to 786,000 barrels per day during the past month, Gabon's production also rose by the same amount (7,000 barrels per day).

    Oil production in Equatorial Guinea also increased by about 4,000 barrels per day, bringing the total to 55,000 barrels per day during December 2023, according to detailed data published by the Energy Research Unit.

    The following table, prepared by the Energy Research Unit, shows OPEC countries’ production of crude oil according to estimates by monitoring companies:

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    *The production of 7 countries declined.
    OPEC oil production decreased in December 2023, by 7 countries, led by Kuwait, Saudi Arabia, and Iran.

    Kuwait's crude oil production declined by about 23,000 barrels per day on a monthly basis, bringing the total to 2.54 million barrels per day during the past month.

    Saudi Arabia's production also fell by 12 thousand barrels per day, bringing the total to 8.956 million barrels per day during the past month.

    While Iran's crude oil production decreased by about 11 thousand barrels per day, bringing the total to 3.14 million barrels during last December.

    While the UAE's crude oil production fell by about 8,000 barrels per day, bringing the total to 2.89 million, while Congo's production decreased by the same amount, reaching 245,000 barrels per day.

    Algeria's crude oil production also decreased by 4,000 barrels per day, bringing the total to 959,000 barrels per day during the month of December 2023.

    While Libya's crude oil production decreased by only 3,000 barrels per day during the past month, bringing the total to 1.17 million barrels. Daily. 



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