Oil production in OPEC countries declined most in Iran and Iraq in June


July 12, Fineko/abc.az. Crude oil production in the countries of the Organization of Petroleum Exporting Countries (OPEC) decreased by 90,000 barrels to 29.9 million bpd in June.

The monthly oil market report of the International Energy Agency (IEA) says that last month oil production amounted to 5.57 bpd on the cartel, in addition to crude oil.

At that, in June OPEC’s total production reached 35.48 million bpd.

For the reporting month the growth of oil production on OPEC totaled most of all in Nigeria and Saudi Arabia. Nigeria's production peaked for the last 3 years with a rise of 110,000 barrels, reaching 1.77 million bpd. And oil production in Saudi Arabia, the largest oil producer in the cartel, exceeded 70,000 barrels and amounted to 9.77 million bpd.

Among the OPEC member states in June, the countries with the largest cuts in oil production were Iran, Iraq and Angola. Production of Iran, which was subjected to US sanctions, decreased by 120,000 barrels to 2.28 bpd. In Iraq oil production decreased by 60,000 barrels to 4.7 bpd.