OPEC crude oil output drops in June

Crude oil production from the Organisation of the Petroleum Exporting Countries (OPEC) fell to 30.45 million barrels per day (b/d) last month. It dropped from 30.57 million b/d in the month of May as lower volumes from Libya and Iraq more than offset an increase from top producer Saudi Arabia, according to a Platts survey […]

Oil price climbs despite rising OPEC oil output

Oil prices are climbing despite a four year high in oil output from the Organisation of the Petroleum Exporting Countries, according to analysts. OPEC production reached a four year high this month, climbing by 400,000 barrels per day (b/d) last month. It rose to 31.27 million b/d in February, the highest volume from the 12 […]

OPEC pumping more oil than planned

The Organisation of the Petroleum Exporting Countries (OPEC) is producing more oil than its own forecasts, according to analysts at Platts. 

The information provider’s latest survey found OPEC’s oil output jumped by 550,000 barrels per day (b/d) to 30.6 million b/d in November.

 Platts said this put the Middle Eastern oil bloc’s production in line […]