The Organization of the Petroleum Exporting Countries (OPEC) decreased its oil production to 29.55 million barrels per day in November, thus increasing its overcompliance with the OPEC+ oil production cuts deal to 46 percent from October's 23 percent, mostly due to Saudi Arabia and Angola, according to the organization's Monthly Oil Report, released on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 11th December, 2019) The Organization of the Petroleum Exporting Countries (OPEC) decreased its oil production to 29.55 million barrels per day in November, thus increasing its overcompliance with the OPEC+ oil production cuts deal to 46 percent from October's 23 percent, mostly due to Saudi Arabia and Angola, according to the organization's Monthly Oil Report, released on Wednesday."According to secondary sources, total OPEC-14 preliminary crude oil production averaged 29.55 mb/d in November, lower by 193 tb/d m-o-m. Crude oil output increased mostly in Ecuador, Kuwait and Libya, while production decreased in Saudi Arabia, Angola, Iraq and Iran," the report read.
