OPEC's oil production soar 100,000 bbl/day in January

Baku. 1 February. REPORT.AZ/ Average daily oil production in OPEC countries increased by 100,000 bbl (0.31%) up to 32.4 mln bbl in January. 

Report informs citing the Reuters.

According to information, the growth was mainly due to Saudi Arabia and Nigeria. Thus, in January, OPEC members fulfilled obligations to OPEC+ agreement on oil production cut by 137%. Notably, last month this indicator was 138%.

In January, Nigeria was the OPEC member with highest production output. However, the report does not specify the volume of production. The production in Saudi Arabia increased by 50,000 bbl/day, and in Libya by 30,000 bbl/day. It is reported that production in Venezuela and Iraq has decreased.

Notably, in its report, the Reuters takes information from reports of OPEC and consulting companies and sources in oil companies.