A survey results were published that the production of the Organization of the Petroleum Exporting Countries ,OPEC is likely to record the highest level in modern history at the time , which pumps when Iraq more crude while check Nigeria 's success in export volumes additional crude in spite of attacks by militants on oil facilities.
it emerged from the survey, that Saudi Arabia is a member of OPEC has kept production close to a record high level with its coverage of the seasonal demand higher while the focus on maintaining its market share rather than reduce production to support prices.
the increased OPEC output to 33.41 million bpd in July , compared with 33.31 million bpd in reading in June ,according to the survey which was based on shipping data and information from sources in the sector.
and caused increased OPEC production in more downward on crude prices pressures.
fell oil from the highest level in 2016 , which approached $ 53 a barrel in June to $ 42 a barrel on Friday under pressure from concerns about weak demand.
the OPEC production rises more if talks on reopening of Libyan oil installations succeeded after under the country 'sproduction at very low levels compared to what it was before the war.
he said Carsten Fritsch , analyst at Commerzbank this bank may lead to pump more oil soon in a market with an oversupply already crude despite the fact that previous hopes for the resumption of production has not beenrealized.
jumped OPEC production because of the return of former member Indonesia in 2015 and the accession of Gabon also this month, and that the production of the rest of the members in July amounted to 32.46 million bpd, thehighest ever in the Reuters survey , which began in 1997.
the increased supply also since OPEC abandoned in 2014 for its historic role of reducing production to support higher prices , where pumping top producers such as Saudi Arabia, Iraq and Iran , the largest quantities of crude.
and was the largest increase in July from Iraq by 90 thousand barrels per day as it has been export more crude north and south of the country amounts although a leak in a pipeline led to crashes some exports. in