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OPEC has significantly increased the volume of oil production

The price of "black gold" again came down.

12.Jul.16 4:11 AM
By Andrey Shulga


OPEC has significantly increased the volume of oil production
The country's OPEC greatly increased the volume of oil production, which led to a significant weakening of the latter. This data shows the monitoring of the S&P Global Platts.

At the end of June the total production of OPEC countries was of 32.73 million barrels per day. Thus, the daily production of "black gold" rose by 300 000 barrels. Such has not been since 2008.

Most of all, the production volume increased Iran, Saudi Arabia and Nigeria. The latter increased its daily oil production to 1.57 million barrels. Thus, the daily production of this African country increased by 150 000 barrels.

Iran has increased its daily production to 3.63 million barrels. Daily production rose by 80,000 barrels.

Saudi Arabia increased daily production of "black gold" on the 80 000 barrels. A day this Arab country is pumping at about 10.33 million barrels of oil.

Amid the increase in supply, the price of oil on the world market came down. At the moment the price of "black gold" is less than 46 dollars per barrel.

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