Global oil supply falls in May: IEA

Anadolu Agency | Jun 14, 2019 at 11:01 AM
  • During May, global oil supply edged down 100,000 barrels per day (tbpd) to 99.5 million barrels per day (mbpd), nearly 3 mbpd below a November peak.
  • Output in Iraq climbed 130 tbpd in May as exports rose and domestic throughput edged higher and production in Kuwait increased to 2.71 mbpd.
  • In non-OPEC supply, Russian production dropped to its lowest level in a year, while maintenance affected operations in Canada, Kazakhstan and the North Sea.