oil outputs witnessed notable increase this month
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Despite crisis

Oil outputs witnessed notable increase this month

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Oil outputs witnessed notable increase this month

OPEC
Tripoli - Al Maghrib Today

OPEC oil output has risen this month by 50,000 barrels per day (bpd), a Reuters survey found, as Iraqi exports increased and production edged higher in Libya, one of the producers exempt from a supply-cutting deal.
OPEC’s adherence to its pledged supply curbs slipped to 86 percent from August’s 89 percent, the survey found. Top exporter Saudi Arabia continued to shoulder a larger portion of OPEC’s total cut by pumping below its target.
The gain in Iraqi supplies shows that political tension over the Kurdish region’s independence referendum has not affected its exports. Concern that these could be at risk has helped support oil, which this week reached almost $60 a barrel, the highest in more than two years.
“No rapid solution to the crisis can be expected, which should continue to lend support to the oil price,” said Carsten Fritsch, an analyst at Commerzbank in Frankfurt.  As part of a deal with Russia and other non-members, the Organization of the Petroleum Exporting Countries is reducing output by about 1.2 million bpd from Jan. 1, 2017 until March next year.
The survey also found no sizeable further gain in output in Nigeria or Libya, which are exempt from the cut. Extra Libyan and Nigerian production had helped lift output to a 2017 high in July, adding to OPEC’s task in trying to curb excess supply. Libya pumped an extra 50,000 bpd this month as the Sharara oilfield reopened after a pipeline blockade. But output remains volatile and, on average in September, below levels of more than 1 million bpd seen earlier this year.
Nigerian output slipped by 30,000 bpd. Royal Dutch Shell’s Nigerian venture declared force majeure on exports of Bonny Light crude due to the shutdown of an export pipeline. Iraqi production has risen by 40,000 bpd owing to higher exports from the autonomous Kurdish region, tanker data showed. Exports from the country’s southern terminals were largely flat, according to tanker data and industry sources.
Top exporter Saudi Arabia added 20,000 bpd to supply, with exports rising and crude use at domestic power plants declining seasonally, according to sources in the survey to Reuters. Iran, allowed a small increase in the OPEC deal, also boosted supply by 20,000 bpd. Among countries with lower output, Angola exported fewer cargoes than in August, as did Venezuela, the survey found.
OPEC last year announced a production target of 32.50 million bpd, based on low figures for Libya and Nigeria. The target includes Indonesia, which has since left OPEC, and does not include Equatorial Guinea, the latest country to join. According to the survey, output in September has averaged 32.72 million bpd, about 970,000 bpd above the target adjusted to remove Indonesia and not including Equatorial Guinea.
With Equatorial Guinea added, production in September totaled 32.86 million bpd, up 50,000 bpd from August. The Reuters survey is based on shipping data provided by external sources, Thomson Reuters flows data, and information provided by sources at oil companies, OPEC and consulting firms

 

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oil outputs witnessed notable increase this month oil outputs witnessed notable increase this month

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oil outputs witnessed notable increase this month oil outputs witnessed notable increase this month

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 07:39 2012 Thursday ,13 September

Chilled tomato soup

GMT 01:02 2015 Wednesday ,20 May

UN: North Korea cancels Ban visit

GMT 13:16 2011 Wednesday ,09 November

GM net income falls in 3d quarter

GMT 06:33 2015 Friday ,04 December

Qatar signs first contracts on 'cities'

GMT 11:40 2011 Friday ,10 June

Carbon credits may be awarded for camel cull

GMT 08:45 2012 Friday ,21 December

Sexy Mother Pucker

GMT 16:15 2017 Friday ,10 February

Morocco to Face Burkina Faso and Tunisia in March

GMT 19:46 2011 Monday ,01 August

NFL teams busy signing players

GMT 14:02 2011 Friday ,15 July

Somalia faces drought \'catastrophe\'

GMT 06:45 2017 Thursday ,16 February

Drought Pushes Food Prices up Sharply in East Africa

GMT 11:39 2011 Thursday ,24 November

Assassin’s Creed Revelations

GMT 13:49 2011 Thursday ,15 September

Olsens enjoy NY Fashion Week

GMT 15:37 2012 Friday ,20 January

Turkish lunar landscapes

GMT 04:53 2012 Friday ,03 August

Locarno puts Putin under spotlight

GMT 12:20 2011 Sunday ,04 December

Summer Resort

GMT 01:09 2011 Thursday ,01 December

Fahrenheit 451

GMT 21:08 2015 Sunday ,27 September

Talks with Sisi tackled Renaissance Dam

GMT 08:49 2012 Monday ,18 June

Jessie J returns to The Voice

GMT 04:13 2015 Wednesday ,11 March

Oil supplies regular

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 09:51 2014 Monday ,01 December

'Hunger Games' survives at top of US box office
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday