Iran's oil export increased by 200,000 bpd
Azerbaijan , Baku, June14/Trend/
Iran has increased volume of oil export by 200,000 barrel of oil per day, Mehr News Agency reported quoting the National Iranian Oil Company.
As OPEC's president, Iran's increase of oil export by 200,000 barrels of oil per day indicates the country's commitment to OPEC export quota, while Saudi Arabia is considered to be a major offender by increase of one million barrel of oil per day.
The statistics indicate Saudi Arabia has increased oil export by one million barrel per day, while the Emirates increased oil export by 377,000 barrels, Venezuela 514,000 barrels, Kuwait 259,000 barrels, Nigeria 349,000 barrels and Angola 91,000 barrels of oil per day, exported more than their commitment to OPEC quota.
The global demands for oil increased in first three months of 2011 to 88.4 million barrels of oil per day while it reduced to 88.2 million barrel per day in the second three months of the year.
It is predicted that by second half of 2011 and start of cold season oil export increases to 2 million barrels of oil per day which improves the oil prices by the end of the year.