ECONOMY


Oil production in OPEC countries dropped most in Iran and Iraq last month

Baku, July 12, AZERTAC

In June, crude oil production in the Organization of Petroleum Exporting Countries (OPEC) fell by 90,000 barrels stand at 29 million 910,000 barrels per day.

According to the monthly report of the International Energy Agency (IEA) on the oil market, in June, the total production of OPEC was 35 million 480 thousand barrels per day.

The increase in OPEC oil production was recorded most in Nigeria and Saudi Arabia.

Nigeria's production has reached the peak of the last 3 years, with an increase of 110,000 barrels a day to 1 million 770 thousand barrels a day. In Saudi Arabia, the largest oil producer in Kartel, production increased by 70,000 barrels daily to 9,770,000 barrels a day.

The most declining oil production in OPEC member countries in June was Iran, Iraq and Angola. Iran’s production has dropped by 120,000 barrels to 2,280,000 barrels per day.

In Iraq, production decreased by 60 thousand barrels per day stand at 4 million 720 thousand barrels per day.

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