Oil production increased to 30 million barrels per day
OPEC reported the increase in oil production to 30 million barrels per day
The Organization of the Petroleum Exporting Countries (OPEC) released its monthly report, noting that oil production has risen to 30 million barrels per day, representing an increase of 117,000 barrels per day since January. The additional production is mainly attributed to increased oil extractions in Nigeria, which have averaged 79,000 barrels per day.
According to the report, the 13 OPEC members produced a total of 28.92 million barrels per day, although these figures may differ from the official figures provided by individual members.
As for Venezuela, it was reported that the country has extracted an average of 700,000 barrels of oil per day, an increase of 4,000 barrels per day compared to the previous month. However, production dropped to 704,000 barrels per day in February, a decrease of 28,000 barrels per day compared to January.
The OPEC report has not changed its outlook on the global oil market in recent months as it remains uncertain due to various factors. Given the high uncertainty, the OPEC+ alliance will continue to closely monitor market developments to ensure sustainable stability.
(Reference image source: file)
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