OPEC Oil Output In December Down 580,000 Barrels Daily To 32.39Mln Barrels Per Day - IEA

OPEC Oil Output in December Down 580,000 Barrels Daily to 32.39Mln Barrels Per Day - IEA

The oil production of the members of the Organization of the Petroleum Exporting Countries (OPEC) decreased by 580,000 barrels daily, compared to October, to 32.39 million barrels daily, the International Energy agency (IEA) said Friday in a report

MOSCOW (UrduPoint News / Sputnik - 18th January, 2019) The oil production of the members of the Organization of the Petroleum Exporting Countries (OPEC) decreased by 580,000 barrels daily, compared to October, to 32.39 million barrels daily, the International Energy agency (IEA) said Friday in a report.

Compared to November, the oil production "dropped by 590 kb/d in December."

"Saudi Arabia cut back from record highs while Iran and Libya saw further losses. OPEC production is set to fall further in January, when new Vienna Agreement cuts take effect," the report read.