BAKU, Azerbaijan, Sept.13
By Leman Zeynalova – Trend:
According to secondary sources, total OPEC-13 crude oil production averaged 26.76 million barrels per day (mb/d) in August 2021, higher by 0.15 mb/d month-on-month, Trend reports with reference to OPEC.
The table below shows the ranking of OPEC members in terms of m-o-m oil supply growth in August:
|
OPEC member |
July 2021 output (thousand barrels per day) |
August 2021 output (thousand barrels per day) |
Change (in percent) |
|
Angola |
1,067 |
1,110 |
4.02 |
|
Iraq |
3,965 |
4,056 |
2.29 |
|
UAE |
2,722 |
2,777 |
2.02 |
|
Algeria |
911 |
920 |
0.98 |
|
Saudi Arabia |
9,420 |
9,488 |
0.72 |
|
Kuwait |
2,424 |
2,441 |
0.70 |
|
Libya |
1,158 |
1,163 |
0.43 |
Congo, Iran and Nigeria reduced their oil production in August as compared to July, while the output volume of Equatorial Guinea, Gabon and Venezuela remained unchanged.
At the 20th OPEC and non-OPEC Ministerial Meeting (ONOMM), held Sept.1 2021, the sides reconfirmed the production adjustment plan and the monthly production adjustment mechanism approved at the 19th ONOMM and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of October 2021.
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Follow the author on Twitter: @Lyaman_Zeyn