Today.Az » Business » OPEC oil output unchanged month-on-month
15 May 2019 [11:12] - Today.Az
According to secondary sources, total OPEC-14 preliminary crude oil production averaged 30.03 mb/d in April, marginally unchanged from the previous month, Trend reports citing OPEC Monthly Oil Market Report (MOMR).
Crude oil output decreased mostly in Iran, Saudi Arabia and Angola, while production increased in Iraq, Nigeria and Libya, reads the report.
“The share of OPEC crude oil in total global production unchanged to 30.4 percent in April 2019 compared with the previous month. Estimates are based on preliminary data from direct communication for non-OPEC supply, OPEC NGLs and non-conventional oil, while estimates for OPEC crude production are based on secondary sources,” said the cartel.
On December 7, 2018, an agreement was reached at the fifth ministerial meeting of the non-OPEC member and non-OPEC countries in Vienna to cut daily oil production by 1.2 million barrels.