Google+ Followers

Monday, 30 April 2018

OPEC April oil output hits year low on Venezuela slide: Reuters survey | Reuters

OPEC April oil output hits year low on Venezuela slide: Reuters survey | Reuters:

"OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers, a Reuters survey found, sending compliance with a supply-cutting deal to another record.

The Organization of the Petroleum Exporting Countries pumped 32.12 million barrels per day this month, the survey found, down 70,000 bpd from March. The April total is the lowest since April 2017, according to Reuters surveys.

OPEC is reducing output by about 1.2 million bpd as part of a deal with Russia and other non-OPEC producers to get rid of excess supply. The pact started in January 2017 and runs until the end of 2018. "



'via Blog this'