OPEC Raised Oil Production By 400,000 Bpd In May

OilPrice.com | Jun 10, 2021 at 12:30 PM
  • The third producer exempted from the cuts, Libya, also raised its crude oil production in May compared to April, when output was lower due to several days of force majeure at one of the oil export terminals.
  • Saudi Arabia is gradually easing its extra cut between May and July, beginning with monthly production increases of 250,000 bpd in both May and June.
  • Iran raised its crude oil production by 42,000 bpd to 2.455 million bpd in May.