Friday, 3 Feb 2023

The production of OPEC countries increased and a slight decrease for Iraq last December

Baghdad - OPEC announced today, Wednesday, that the oil production of the 13 member states of the organization rose to 28.971 million barrels per day during last December, an increase of 91 thousand barrels per day compared to last November, due to the increase in production of the two countries, Nigeria and Angola, while Iraq's production decreased slightly.

According to the OPEC monthly report, “the largest increases came first from Nigeria, as its oil production increased by about 91 thousand barrels per day to reach 1.267 million barrels per day, followed by Angola, with an increase of 42 thousand barrels per day, followed by Libya, with an increase of 17 thousand barrels per day, followed by Venezuela, with an increase of 13 thousand barrels per day, and also Iran, with an increase of 9 thousand barrels per day, and then Saudi Arabia, with a slight increase of 4 thousand barrels per day.

It indicated that "the countries whose production decreased, Kuwait came at the top of the group, with a decrease of 35 thousand barrels per day, followed by the Congo, with a decrease of 18 thousand barrels per day, then Algeria, with a decrease of 11 thousand barrels per day, and the UAE, with a decrease of 9 thousand barrels per day, while Iraq's production decreased slightly, reaching 4 thousand barrels per day, bringing its production to 4.480 million barrels per day.

The Organization of the Petroleum Exporting Countries (OPEC) maintained expectations for oil demand growth this year at a level of 2.2 million barrels per day, which is identical to the organization’s expectations announced last month, as OPEC expects the average daily demand in 2023 to reach 101.77 million barrels per day.

Source: National Iraqi News Agency

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