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OPEC countries’ performance of Vienna Agreement was 122% in November — report

According to the document, Saudi Arabia produced 9.87 mln barrels of oil daily, up 101,000 barrels per day against October

MOSCOW, December 13. /TASS/. OPEC countries scaled up oil production by 285,000 barrels daily to 27.7 mln barrels per day, OPEC says in its December report. Performance of the oil production limiting deal was 122% of the target against 121% one month earlier.

Saudi Arabia produced 9.87 mln barrels of oil daily, up 101,000 barrels per day against October, according to the report. Oil production moved up in Iraq to 4.24 mln barrels per day, in Nigeria to 1.42 mln barrels per day, and in Kuwait to 2.53 mln barrels per day. Angola lowered oil production to 1.08 mln barrels per day. Libya’s production declined to 1.14 mln barrels per day.

Ten out of thirteen OPEC members participate in the OPEC+ agreement because such countries as Iran, Libya and Venezuela are exempt from restrictions.

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