The Organization of Petroleum Exporting Countries (OPEC) said, on Tuesday, that the production of its 13 members decreased by 744 thousand barrels per day, on a monthly basis, during last November.
The organization stated in its monthly report that production decreased to 28.826 million barrels per day during the past month, from 29.570 million barrels per day in October.
According to the report, 10 countries reduced their production, led by Saudi Arabia, which reduced its production by 404,000 barrels per day.
Saudi production – the world’s largest oil exporter – fell to 10.474 million barrels per day, from 10.878 million barrels per day in October.
- Advertisement -
The UAE reduced its production by 149 thousand barrels per day to 3.037 million barrels, while Kuwait reduced its production by 121 thousand to 2.685 million barrels.
Iraq reduced its production by 117 thousand barrels per day to 4.465 million barrels per day, while Algeria reduced its production by 19 thousand to 1.022 million barrels per day.
On the other hand, 3 countries increased their production, led by Nigeria, which increased its production by 92 thousand barrels per day, Angola by 38 thousand barrels, and Gabon by 2 thousand barrels per day.
And the “OPEC +” coalition decided, in the first week of this month, to maintain oil production levels without an increase or decrease, according to the agreement of last October 5, which stipulated a reduction of two million barrels per day.