OPEC production rose for the third straight month in
June, as increased production from Saudi Arabia offset a decline in
Libyan output, a Dow Jones Newswires survey of industry sources and
analysts showed.
Crude-oil production from the Organization of Petroleum
Exporting Countries averaged 30.678 million barrels a day in June, from
30.575 million barrels a day in May.
The rise in production was largely the result of an increase
of nearly 200,000 barrels a day in Saudi Arabia, as well as a small
uptick in output in Nigeria, Iran and Kuwait.
However, increased production elsewhere was offset by a
200,000-barrel-a-day decline in Libya's output. Protests at oil
terminals saw the country's crude production briefly dip below 1 million
barrels a day last month raising concerns over security in the country.
In a recent report JBC Energy warned that Libya's crude supplies are in
"severe danger," adding that according to its estimates, average Libyan
production fell to its lowest since January 2012 last month.
TABLE OF OPEC OUTPUT - DOW JONES NEWSWIRES
SURVEY (a)
(in millions of barrels a day)
June May April March Feb Jan Dec Ceiling(b)
Saudi 9.533 9.350 9.226 9.210 9.125 9.050 9.025
Iran 2.700 2.650 2.800 2.750 2.800 2.750 2.675
UAE 2.733 2.750 2.688 2.613 2.633 2.610 2.600
Kuwait 2.850 2.800 2.817 2.788 2.838 2.800 2.817
Venezuela 2.350 2.350 2.350 2.325 2.450 2.350 2.400
Nigeria 2.042 1.950 1.950 1.975 2.050 2.000 1.950
Angola 1.780 1.770 1.740 1.775 1.800 1.800 1.780
Libya 1.150 1.350 1.375 1.325 1.275 1.340 1.488
Algeria 1.150 1.200 1.150 1.160 1.160 1.200 1.185
Qatar 0.765 0.800 0.770 0.775 0.775 0.800 0.775
Ecuador 0.480 0.480 0.450 0.480 0.480 0.480 0.480
Iraq 3.145 3.125 3.150 3.050 3.050 3.150 3.175
TOTAL 30.678 30.575 30.466 30.226 30.436 30.330 30.350 30.000(b)
a. Dow Jones Newswires assesses OPEC output from
data supplied by primary sources, traders and analysts. Totals may not
add up due to independent rounding of numbers. b. At its Dec. 14, 2011,
meeting in Vienna, OPEC agreed to a new production ceiling of 30 million
barrels a day applying to all members, but without individual quotas
for each country.