OPEC daily oil production increased by 195 thousand barrels
reported by Mehr News Agency, according to Reuters, the latest survey of this news agency on Monday (November 14) showed that following the revival of oil exports and production, Libya seeks to resolve the differences between the east and west factions of the country over the election of the head of the central bank. The Organization of the Petroleum Exporting Countries (OPEC) production increased in October after recording the lowest level in 2024 during September, while Iraq’s adherence to plans announced to the OPEC secretariat to offset its breach of production quotas in the OPEC alliance’s supply reduction agreement and Its allies (OPEC Plus) limited this increase.
Reuters survey showed that OPEC produced 26.333 million barrels of oil per day last month, which is 195 thousand barrels per day more than the figure revised in September, and the most The increase in supply was related to Libya.
After resolving the dispute between the western and eastern governments of Libya on the election of the head of the central bank, which had stopped the country’s oil fields and export terminals for a while, this North African country, a member of OPEC, has increased its production. With daily recovery of 500,000 barrels, it reached 1,30,000 barrels.
This survey showed that Venezuela has also increased its crude oil production to 860,000 barrels per day, which is the highest figure since at least 2020, according to a Reuters survey.
Libya and Venezuela are both excluded from the OPEC Plus supply reduction agreement, among the countries that produced less, Iraq and Iran had the largest reductions.
According to a Reuters survey, Iraq increased its production to 3,980,000 barrels per day, which is less than the OPEC+ quota, due to a decrease in exports and domestic consumption and a decrease in production in northern Iraq. is.
Iran has increased its oil exports to its highest level since 2018 in the last few years, even though the sanctions of the United States of America are still in place. However, according to this survey, the country’s oil exports It has been facing a decrease during the month of October.
According to this survey, 9 members of OPEC in October have supplied about 46 thousand barrels per day more than the production quota set in the OPEC Plus agreement and Gabon has violated its quota the most.
The purpose of the Reuters survey is to monitor the supply of oil in the market, which based on the data related to the movement of ships from foreign sources, the data London Stock Exchange Group (LSEG), information from ship monitoring companies such as Petrologistic and Kepler, and information provided by oil company sources, OPEC and consultants.
