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In January, OPEC exceeded its goal by 130%

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In January, OPEC exceeded its goal by 130%
February 13
13:00 2020

The OPEC press service has reported on the cartel success. So, it became known that the total production in January had decreased by more than 500 thousand b / d. At the moment, this indicator is 28.86 million bpd.

Due to hostilities in Libya, production has fallen by almost 345 thousand barrels. Now about 800 thousand bpd are mined there.

Saudi Arabia has increased the production by almost 60 thousand barrels, but it continues to remain within the framework of cartel agreements. The total production of Saudi Arabia is 9.7 million bpd.

It is safe to say that the OPEC members have fulfilled their agreements to reduce production by almost 130%. Production under the general program was reduced by 300 thousand bpd.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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