TEHRAN, Iran, June 20. Crude oil output in Iran, along with Libya, Nigeria, Iraq, Gabon is dropping, according to secondary sources, Trend reports citing OPEC’s Monthly Oil Market Report (MOMR).
The report also said that the output has increased in Saudi Arabia, the UAE and Kuwait.
The share of OPEC crude oil in total global production averaged 28.51 mb/d in May 2022, lower by 176 tb/d m-o-m.
Iran's crude oil output in May declined by 20 tb/d to average of 2.544 mb/d.
The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance.