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| OPEC Pumps 29M Barrels Per Day |
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 The 12-member Organization of the Petroleum Exporting Countries' (OPEC) pumped an average 29.57 million barrels per day (b/d) of crude oil in June, an increase of 530,000 barrels per day as Saudi Arabia, Kuwait and the United Arab Emirates (UAE) boosted production, a Platts survey of OPEC and oil industry officials and analysts showed July 8. In May, OPEC production was 29.04 million b/d.Despite the sizeable month-on-month increase, however, the June volume was lower than the 29.8 million b/d estimated for February, when the escalating unrest sweeping across North Africa and the Middle East was beginning to affect Libyan production. Increases totalling 760,000 b/d were partly offset by combined reductions of 230,000 b/d.   Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
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| Last Updated on 09 July 2011 14:54 |