OPEC: world oil production fell in May

The Organization of the Petroleum Exporting Countries said global oil production fell 150,000 barrels a day in May from the previous month.

The Organization of the Petroleum Exporting Countries (OPEC) said global oil production fell 150,000 barrels a day in May from a month earlier to nearly 98.75 million barrels.

According to the monthly report on the OPEC oil market, the daily crude oil production of members of this organization in May decreased by 176,000 barrels compared to the previous month and amounted to 28.05 million barrels, Anatolia reports.

The share of OPEC in world oil production was 28.9% compared to 29% in the previous month.

Mainly in South Arabia, UAE and Kuwait

During this period, OPEC crude oil production increased the most in Saudi Arabia, the United Arab Emirates and Kuwait, while crude oil production declined the most in Libya, Nigeria and Gabon.

Daily production increased last month by 60,000 barrels in Saudi Arabia, 31,000 barrels in the UAE and 27,000 barrels in Kuwait compared to the previous month.

Production fell by 186,000 barrels in Libya, 45,000 barrels in Nigeria and 32,000 barrels in Gabon.

During the same period, non-OPEC daily oil production increased by 23,000 barrels to around 70.2 million barrels.