OPEC oil production declined in November


December 12, Fineko/abc.az. The OPEC daily oil production decreased for November, according to the OPEC monthly report.

OPEC oil production decreased by 193,000 barrels last month versus October and amounted to 29.55 million bpd. The share of OPEC in world oil production made up 29.6%.

Last month, among OPEC member countries, Ecuador, Kuwait and Libya increased oil production the most. Daily production in Ecuador increased by 73,000 barrels up to 530,000 barrels. Daily production in Kuwait grew by 58,000 barrels up to 2.705 million barrels. And in Libya, oil production increased by 23,000 up to 1.188 million bpd.

In November, oil production in cartel member countries fell the most in Saudi Arabia, Angola and Iraq. Daily production of Saudi Arabia fell to 9.85 million, reducing by 151,000 barrels, in Angola by 75,000 barrels to 1.284 million bpd, in Iraq by 59,000 barrels to 4.639 million barrels.

Last month, 73 rigs in the world stopped working. Thus, in general, the number of installations worldwide amounted to 2,200, and 575 of them in the OPEC member countries.