According to Baku, Trend news agency in Azerbaijan, the Trend news agency, citing OPEC’s latest monthly oil market report (MOMR), reported that 14 OPEC members produced an average of 30.03 million barrels a year in early April, the same as in March.
The main members of the decline in crude oil production in April were Saudi Arabia and Angola, while crude oil production in Iraq, Nigeria and Libya increased in April, the report said. OPEC’s share of crude oil produced in April in the world’s total crude oil production for the month remained unchanged from March, remaining at 30.4%.
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The estimate is based on preliminary data on supply to non-OPEC oil producers, OPEC gas liquid production and direct communication of unconventional oil, while estimates of OPEC crude oil production are based on second-hand sources. On December 7 last year, the fifth ministerial meeting of OPEC members and non-OPEC oil producers reached an agreement in Vienna to cut oil production by 1.2 million barrels a year from January 1.
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