OPEC's crude oil production climbed in May compared to April as Iraq continued to overproduce.
’s crude oil production rose by 145,000 barrels per day bpd in May compared to April, as Iraq continues to pump above its quota and boosted output alongside African producer Nigeria, the monthly Reuters survey showed on Tuesday.
quota, and has also consistently promised it would compensate for said overproduction. Last month, Iraq and non- deal, which led to the pact produced around 250,000 bpd more than their combined implied target in the deal, according to the Reuters survey. Iraq accounted for a large part of
Crude Oil Production Oil Oil Prices Iraq Output
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OPEC Signals Lasting OPEC Alliance in Oil Market ManagementOPEC is preparing to replace the 'call on OPEC' forecast of global demand for the cartel's crude oil with 'call on OPEC crude' in its closely-watched monthly oil market report
Read more »
OPEC Expected to Extend Oil Production CutsThe OPEC group is expected to extend its oil production cuts into the second half of 2024 when producers meet on Sunday.
Read more »
Oil Production Capacities Could Be OPEC's Next Big DisputeIndependent assessments of oil production capacity could reignite internal conflicts within OPEC ahead of its critical meeting this week.
Read more »
OPEC's Oil Production Drops Ahead of Key Policy MeetingOPEC's oil production declined by 48,000 barrels per day from March to April, just ahead of the meeting at which OPEC will decide on its production levels.
Read more »
Sources Warn of Potential OPEC 'Plot Twist' on SundayOPEC is reportedly considering extending or deepening voluntary oil production cuts at its upcoming meeting.
Read more »
The Controversy That Nearly Destroyed OPEC Has ResurfacedKazakhstan reawakened a divisive issue among the OPEC group with regard to oil production quotas
Read more »