Increased crude production by Iran, Nigeria and Iraq, inspired a boost in the August production by the Organisation of Petroleum Exporting Countries, the group said.
Oil production from the 13 members of the organisation, OPEC, averaged 27.45 million barrels per day (mb/d) in August 2023, higher by 113 thousand barrels per day (tb/d) on a month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday.
The report also noted that crude oil production in Saudi Arabia, Angola and Venezuela declined in the same month.
Nigeria’s crude oil production climbed to 1,269 million barrels per day, from 1,171 million in July 2023, while Angola’s output fell 60,000 bpd to 1.155 million barrels a day from 1,175 in July, an OPEC survey, which cites secondary data sources, said.
However, according to the oil cartel’s direct communication data, Nigeria’s crude oil production climbed to 1,181 million barrels per day, from 1,081 million in July 2023.
OPEC indicated…