OPEC crude oil output down slightly in June

Opec-rig OPEC members saw their crude oil production drop slightly in June, possibly due to lower output in Saudi Arabia and international sanctions against Iran

The monthly US Energy Information Administration (EIA) Short Term Energy Outlook said that members produced an average of 30.54 million barrels per day (bpd) of crude oil in June, a 1.2 per cent drop from the level seen in May.

Saudi Arabia saw its June average output drop to 9.7 million bpd from 9.8 million bpd in May. 

 Iran, which has seen its oil exports and foreign investment curtailed by a dispute with global powers over its attempts to develop a nuclear programme, produced 2.9 million bpd in June, down from 3.13 million in May.

OPEC's spare crude oil production capacity rose slightly to 2.4 million bpd in June, from 2.3 million bpd in May.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?