Report

rss

Iraq News

Kurdistan

Economy

World

All News

OPEC: Iraq reduced its oil production the most in November

Category: Economy

Date: 2020-12-15T08:12:20+0000
OPEC: Iraq reduced its oil production the most in November

Shafaq News / OPEC announced, on Tuesday, that Iraq is the country that has reduced its oil production the most, while Libya was the most productive country in the organization in November 2020.

The organization said in its monthly report, "total OPEC-13 crude oil production averaged 25.11 million barrels per day in November 2020, up by 0.71 million barrels per day compared by October 2020."

"The production surge came from Libya, whose production reached 1.108 million barrels per day, with an increase of 656 thousand barrels from the previous month, in addition to the UAE, with an increase of 75 thousand barrels from the previous month," the report indicated.

"Iraq is the country to reduce its oil production the most in November; as its average production reached 3.764 million barrels per day, a decrease of 76 thousand barrels per day compared to last October when production reached 3.841 million barrels per day," the report continued.

On Monday, OPEC cut its forecast for oil demand recovery by 350,000 barrels per day due to the pandemic's continuing impact but said that the rapid spread of vaccines in major economies "provides a potential rise in growth expectations" in the coming year.

related

OPEC+ agrees oil supply boost after UAE wins argument with Saudi

Date: 2021-07-18 18:40:12
OPEC+ agrees oil supply boost after UAE wins argument with Saudi

Oil slips, awaiting OPEC+ response to U.S.-led crude release

Date: 2021-11-25 07:22:40
Oil slips, awaiting OPEC+ response to U.S.-led crude release

Despite its financial crisis Iraq still committed to OPEC agreement

Date: 2020-11-30 10:24:23
Despite its financial crisis Iraq still committed to OPEC agreement

Oil prices take a breather, OPEC+ sticks to output plans

Date: 2022-02-03 05:38:27
Oil prices take a breather, OPEC+ sticks to output plans

OPEC+ demonstrates a near full compliance to January cuts after Iraqi and Saudi supply restrictions

Date: 2021-02-01 06:40:36
OPEC+ demonstrates a near full compliance to January cuts after Iraqi and Saudi supply restrictions

Oil falls ahead of OPEC+ supply policy meeting

Date: 2021-10-04 06:28:59
Oil falls ahead of OPEC+ supply policy meeting

Iraqi Ministry of Oil: Iraq is more than 100% committed to OPEC+ cuts agreement

Date: 2020-09-02 20:14:17
Iraqi Ministry of Oil: Iraq is more than 100% committed to OPEC+ cuts agreement

Oil prices up about 2% on OPEC+ output, demand prospects

Date: 2021-07-02 05:50:17
Oil prices up about 2% on OPEC+ output, demand prospects