OPEC reveals oil output volumes in 2015

OPEC’s (Organization of the Petroleum Exporting Countries) oil output was 32.315 million barrels per day in 2015, as compared to 31.38 million barrels per day in 2014, says the cartel’s annual bulletin issued June 22.

Over the past year, OPEC’s oil output increased by three percent.

Oil production in Saudi Arabia, the largest producer and exporter of oil in the cartel, was 10.192 million barrels per day in 2015, according to OPEC data.

Meanwhile, oil output in Libya was 403,900 barrels per day in 2015, in Iraq – 3.504 million barrels per day and in Iran – 3.151 million barrels per day.

The cartel’s total oil output volume decreased by 100,000 barrels per day – to 32.36 million barrels per day in May 2016, according to OPEC’s Monthly Oil Market Report (MOMR) for June 2016.

Source: Trend