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OPEC Oil Production Drops In March

From oilprice.com

Crude oil production from OPEC declined by 70,000 barrels per day (bpd) in March compared to February, as operators suspended some production in Kurdistan due to a halt in exports from the Mediterranean and as Angola carried out some field maintenance, the monthly Reuters survey showed on Friday. All 13 OPEC members produced 28.90 million bpd in March, according to the survey tracking the supply to the market from tanker tracking providers and sources at consultancies, OPEC, and oil firms. The 10 OPEC producers part of the OPEC+ pact saw their compliance with the quotas jumping to 173% of pledged cuts in March, up ... (full story)

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  • Category: Fundamental Analysis