- Home
- Business
- OPEC+ Oil Production Up by 160,000 Bpd in Feb, Falling Short of Quota by 1.7Mln Bpd - IEA
OPEC+ Oil Production Up By 160,000 Bpd In Feb, Falling Short Of Quota By 1.7Mln Bpd - IEA
Mohammad Ali (@ChaudhryMAli88) Published March 15, 2023 | 02:10 PM
MOSCOW (UrduPoint News / Sputnik - 15th March, 2023) OPEC+ countries that have obligations under the agreement on limiting oil production increased output by 160,000 barrels per day in February, reducing the gap from the quotas to 1.7 million barrels per day from 1.9 million barrels per day, the International Energy Agency (IEA) said in its fresh report on Wednesday.
"Production from the 19 members subject to quotas increased by 160 kb/d to 38.38 mb/d in February - narrowing the gap between the bloc's supply and official targets to 1.7 mb/d versus 1.
9 mb/d in January. Russia, because of sanctions, pumped 570 kb/d below quota, while Nigeria, Angola and Malaysia are trailing due to operational issues," the report read.
Crude oil production in all 23 OPEC+ countries increased by 180,000 barrels per day in February, according to the IEA.
"OPEC+ crude oil production from all 23 countries rose 180 kb/d to 44.53 mb/d in February, with Russia, Saudi Arabia and Nigeria driving the increase. Output in Kazakhstan, Angola and Iraq declined due to maintenance and unplanned outages," the report said.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
3 hours ago -
US stocks rebound on tech earnings, London hits new record
3 hours ago -
US approves gene therapy treatment for hemophilia
3 hours ago -
KATI president for inclusion of agri sector in tax net
3 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
4 hours ago -
Police to take every step for security of business community: IGP
4 hours ago
-
WB director, Planning minister discuss reforms in development projects
4 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
6 hours ago -
FBR’s data protection efforts commended by OECD assessment team
6 hours ago -
US stocks rebound on tech earnings, London hits new record
7 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
7 hours ago -
SBP to announce monetary policy on April 29
7 hours ago