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OPEC Production Rose Last Month

by Bloomberg |Thursday, January 07, 2021 OPEC s production rose for a third month in December as a continued cease-fire in crisis-torn Libya enabled it to restore more supplies. (Bloomberg) OPEC’s production rose for a third month in December as a continued cease-fire in crisis-torn Libya enabled it to restore more supplies. While the group’s dominant producer, Saudi Arabia, startled oil markets on Tuesday with a pledge to slash 1 million barrels a day next month, the current trend in OPEC output is upwards. The Organization of Petroleum Exporting Countries increased supply by 190,000 barrels a day in December to 25.45 million a day, according to a Bloomberg survey.

Saudis raise Asia, US oil prices after shock output cut

Opec+ approves slight crude output increases | Daily Express Online - Sabah s Leading News Portal

Published on: Thursday, January 07, 2021 By: AFP Text Size: File pic shows the logo of the Opec (Organization of the Petroleum Exporting Countries) is seen at the organisation’s headquarter on the eve of the 164th Opec meeting in Vienna, Austria. LONDON: Members of the oil cartel Opec and their partners agreed to raise output slightly in February and March, but only in Russia and Kazakhstan. Overall the amount of crude oil the group has voluntarily withdrawn from global markets is to decline from 7.2 million barrels per day to 7.125 mbd in February, and 7.05 mbd in March, the Opec+ group said in a statement issued at the end of its first ministerial meeting of the year.

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