Oil production plunged in Iraq, Saudi Arabia in March

Business & Economy April 13, 16:55

Iran reduced oil production by 182,000 barrels daily, the organization noted

MOSCOW, April 13. /TASS/. Oil production declined in a number of Middle East countries in March amid the conflict in the Middle East, the Organization of Petroleum Exporting Countries (OPEC) said in its report.

The production dip was the most notable in monthly terms in Iraq (by 2.563 mln barrels per day (bpd) and in Saudi Arabia (by 2.563 mln bpd), OPEC said. Iran reduced oil production by 182,000 barrels daily, the organization noted.

Oil supply from non-OPEC+ countries will grow by 0.6 mln barrels per day (bpd) to 54.83 mln bpd, OPEC also said in its report, keeping its earlier forecast intact.

The United States, Canada, Brazil and Argentina will be the main contributors to production growth.

Read more on the site →