OPEC cuts oil production to 29.83 million barrels in June


July 11, Fineko/abc.az. In June the OPEC countries showed a decrease in oil production by 68,000 bpd (versus May) up to 29.83 million bpd.

According to OPEC, oil production in Iran (the country itself stopped publishing its data after the restoration of US sanctions) in June fell by another 142,000 bpd to 2.225 million bpd. Production in Libya decreased by 58,000 bpd to 1.1 million bpd.

Meanwhile, Saudi Arabia was able to increase oil production by 126,000 bpd, and it is by 500,000 bpd higher than the commitment on production cuts within the OPEC+ deal.