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Nine out of 13 countries increased oil production in November, OPEC says

Category: Economy

Date: 2021-12-14T08:11:13+0000
Nine out of 13 countries increased oil production in November, OPEC says

Shafaq News/ The Organization of the Petroleum Exporting Countries (OPEC) announced on Tuesday that nine out of 13 countries increased their oil production last November.

Iraq and Saudi Arabia topped the list.

OPEC said in a report the production of OPEC member countries of oil rose by 285,000 barrels per day (bpd) in the past month, to reach 27.717 million bpd, supported by increased supplies from Saudi Arabia, Nigeria, Kuwait, and Iraq.

The report showed that "the largest increase is from Saudi Arabia, (101,000 bpd) followed by Iraq (91,000 bpd).

"Nigeria came third (85,000 bpd), then Kuwait (29,000 bpd), and consecutively the UAE, Venezuela, Gabon and Algeria.

The report indicated that "the largest decrease came respectively from Libya, Angola, Congo and Iran.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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