Baku, Azerbaijan, May 11
By Leman Zeynalova – Trend:
According to secondary sources, OPEC crude oil production decreased by 18,200 barrels per day from the previous month to average 31.73 million barrels per day in April, OPEC said in its Monthly Oil Market Report.
Crude oil production declined in the United Arab Emirates, Libya, Iraq and Iran, but increased in Angola and Saudi Arabia.
Saudi Arabia has produced 9.954 million barrels of oil per day in April, or by 49,200 barrels per day more than in March, according to the data.
In December 2016, OPEC and non-OPEC producers reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices.
Non-OPEC oil producers such as Azerbaijan, Bahrain, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan agreed to reduce output by 558,000 barrels per day starting from Jan. 1, 2017 for six months, extendable for another six months.
OPEC agreed to slash the output by 1.2 million barrels per day from Jan. 1.
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