Baku, Azerbaijan, Jan.18
By Leman Zeynalova – Trend:
According to secondary sources, OPEC crude oil production in December has decreased by 221,000 barrels per day from the previous month to average 33.08 million barrels per day (mbd), the cartel said in its January 2017 Oil Market Report.
Crude oil output increased the most in Iraq, Angola and Libya, while production in Saudi Arabia, Nigeria and Venezuela showed the largest decline, said the report.
The oil production in Iraq increased by 42,600 b/d and stood at 4.632 mbd in December, as compared to 4.590 mbd in November 2016.
Angola’s oil output reached 1.724 mbd in December 2016, while this figure stood at 608,000 b/d in Libya.
OPEC said that Saudi Arabia’s oil production dropped from 10.623 mbd in November to 10.474 mbd in December.
This is while the crude output in Nigeria and Venezuela fell by 113,500 b/d and 45,200 b/d in December 2016, respectively, said the report.
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