UP

OPEC says it raises oil output

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto
OPEC says it raises oil output

OPEC reported an increase in its oil production in September to a multi-year high and raised its forecast for 2017 non-OPEC supply growth, pointing to a larger surplus in the market next year despite the group's deal to cut output.

The Organization of the Petroleum Exporting Countries pumped 33.39 million barrels per day (bpd) last month according to figures OPEC collects from secondary sources, up 220,000 bpd from August, OPEC said in a monthly report on Wednesday.

OPEC also raised its forecast of non-OPEC supply next year, saying supply from outside the group would rise by 240,000 bpd, up 40,000 bpd from the earlier forecast, citing a higher forecast for Russia.

At a meeting in Algeria on Sept. 28, OPEC agreed to cut supply to between 32.50 million bpd and 33.0 million bpd.

The September OPEC production figure is the highest since at least 2008, according to a Reuters review of past OPEC reports.

Date
2016.10.12 / 17:15
Author
Valeh Mammadli
See also

European gas prices plunge after US-Iran ceasefire

Oil prices plunge after US-Iran ceasefire

Global oil prices rise

Global oil prices have been announced

OPEC nations reaffirm Ccmmitment to market stability

Global oil prices have been announced

'Azeri light' crude jumps over 8%, nears $142

Global oil prices have been announced

Russian military losses updated on day 1498

Global oil prices have been announced

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla