Global oil production increased by 0.96 million barrels per day month-on-month in May and totaled 94.3 million barrels daily, the International Energy Agency (IEA) said on Friday
MOSCOW (Pakistan Point News / Sputnik - 11th June, 2021) Global oil production increased by 0.96 million barrels per day month-on-month in May and totaled 94.3 million barrels daily, the International Energy Agency (IEA) said on Friday.
"At 94.3 mb/d, world oil supply was up 960 kb/d month-on-month (m-o-m), and 6.3 mb/d above May 2020 when OPEC+ began its record supply cut. This month, global output is expected to rise significantly as the Kingdom and other OPEC+ members continue to unwind cuts and Norway, Canada and Brazil bounce back from maintenance," IEA said in its monthly oil market report.
