Arab Today, arab today opec output hits 4year high at bpd
Last Updated : GMT 11:39:18
Arab Today, arab today
Arab Today, arab today

Opec output hits 4-year high at bpd

Arab Today, arab today

Arab Today, arab today Opec output hits 4-year high at bpd

London - Arabstoday

Opec output in April has hit its highest since 2008 as extra crude from Iraq, Saudi Arabia and Libya more than compensates for the lowest Iranian supply in two decades ahead of a European Union (EU) embargo, a Reuters survey found yesterday. Supply from the 12-member Organisation of Petroleum Exporting Countries (Opec) averaged 31.75 million barrels per day (bpd), up from a revised 31.32 million bpd in March, the survey of sources at oil companies, Opec officials and analysts found. As well as cushioning the impact of the looming EU plan to embargo Iran\'s crude, the extra oil is filling gaps caused by an unusually large amount of supply outages globally. \"There\'s plenty of oil in the market,\" Paul Tossetti, an analyst at PFC Energy, said. \"But there have been a lot of non-Opec outages, which have continued to tighten supplies.\" Opec\'s total is the highest since September 2008, which was shortly before it agreed to a series of supply curbs to combat recession and collapsing demand, based on Reuters surveys. In April, the biggest increase in Opec supply came from Iraq as a second new Gulf shipping outlet provided a boost to export capacity. Production topped 3 million bpd and rose by 230,000 bpd from the previous month. Saudi Arabian supply edged up in April to 10 million bpd, the survey found. Some customers say the kingdom has been offering them extra crude. Output continued to recover in Libya after being virtually shut down during the uprising against Muammar Gaddafi\'s rule. Supplies also rose from Opec\'s two West African members, Angola and Nigeria. In Iran, output fell significantly in April for a second month, according to oil industry sources outside the country. Supply declined to 3.15 million bpd in April, according to the survey. That would be the lowest output in Iran since it produced 3.088 million bpd in 1990, according to figures from the US Energy Information Administration. In March, Iran\'s exports posted the first sizeable decline since the EU announced in January its plan to embargo Iran\'s crude and Washington and Brussels sanctioned Iran\'s central bank.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today opec output hits 4year high at bpd Arab Today, arab today opec output hits 4year high at bpd

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday