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Wednesday, 04 April 2018 13:00

OPEC crude production drops

OPEC crude production drops

OPEC crude production has dropped to the lowest in a year amid the woes in Venezuela’s oil industry.

Output from the 14 members of Organization of Petroleum Exporting Countries fell by 170,000 barrels to 32.04 million barrels a day in March, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. That’s the lowest since last April’s 31.9 million barrels a day. Back then, Equatorial Guinea, which pumped 130,000 barrels a day last month, wasn’t part of OPEC, Caspian Energy News (www.caspianenergy.net) reports with reference to Bloomberg.

Production in Venezuela declined by 100,000 barrels a day from February to 1.51 million barrels a day, the survey showed.

More details: https://www.bloomberg.com/news/articles/2018-04-03/opec-output-falls-to-lowest-in-a-year-as-venezuela-s-woes-deepen  

Person in charge of the newsline: Fidan Isayeva

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