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Saudi Arabia ups oil production in March by 659,000 barrels per day — OPEC

April 16, 2015, 15:58 UTC+3 VIENNA
OPEC has maintained the growth forecast for global oil demand in 2015 at 1.17 million barrels per day as compared with 2014
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© AP Photo/Charlie Riedel, File

VIENNA, April 16. / TASS / Saudi Arabia has increased the oil production in March by 659,000 barrels per day to 10.29 million barrels per day, OPEC said in its April statement on Thursday.

Oil production by OPEC countries in March increased by 812,000 barrels per day, compared with February to 30.79 million barrels per day.

At the same time, OPEC has maintained the growth forecast for global oil demand in 2015 at 1.17 million barrels per day as compared with 2014.

The growth of oil production in OPEC countries has occurred due to increased demand. The increased seasonal demand for oil from refineries may increase the need for crude oil in the next few months, according to the organization. "Given the expectations of lower oil production in the US in the second half of the year, the increased demand in the oil refinery will be partially satisfied by the oil reserves in the United States," the OPEC report said.

OPEC expects that the global oil demand in 2015 was at 92.37 million barrels per day.

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