Baku, Azerbaijan, July 12
By Elena Kosolapova – Trend:
Preliminary statistics indicates that global oil supply increased by 0.4 million barrels per day to average 94.33 million barrels per day in June 2016 as compared to the previous month, says OPEC Monthly Oil Market Report (MOMR) for July.
The report also said the increase of both non-OPEC supplies by 0.13 million barrels per day and OPEC crude oil production by 0.26 million barrels per day in June led to the increase of global oil output.
The share of OPEC crude oil in total global production increased slightly by 0.1 percentage point to 34.8 percent in June as compared to 34.7 percent in the previous month, according to MOMR.
Total OPEC crude oil production averaged 32.86 million barrels per day in June, an increase of 264,000 barrels per day over the previous month, says the report. Crude oil output increased mostly in Nigeria, Iran, Saudi Arabia, Libya and UAE, while production showed declines in Venezuela and Iraq.
In particular, Iran’s oil output increased by 77,800 barrels per day to 3.64 million barrels per day in June, while Saudi Arabia’s oil output increased by 66,500 barrels per day to almost 10.31 million barrels per day.
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