OPEC’s combined oil production rose to 25.08 million barrels per day in April, up 26,000 from March, thanks mainly to increases in Iran, Saudi Arabia and Nigeria, it was announced today.
The country that increased extractions the most was Nigeria, according to data published today in the monthly report of the Organization of the Petroleum Exporting Countries (OPEC) calculated on the basis of “secondary sources,” i.e., estimates by independent institutes.
Nigeria’s production last month totaled 1,548,000 barrels per day, up 75,000 barrels per day from March, followed by Iran and Saudi Arabia, which added 73,000 barrels and 34,000 barrels more to the market, respectively, bringing the totals to 3.92 million barrels and 8.13 million barrels, in that order.
These increases offset the decrease in production in other countries, namely Venezuela and Libya.
In the case of the Latin American country, the number of barrels per day fell by 81,000 barrels per day, bringing total production to 445,000 barrels per day, while Libyan extractions fell by 67,000 barrels per day, for a total of 1.13 million barrels.