Mundo 12-07-2017

OPEC increases oil output to 32.61 million barrels

OPEC increased oil output by 393,000 barrels per day in June to 32.61 million barrels compared to May, according to a report by the organization.

According to the document, "oil production experienced the highest increase in Libya, Nigeria, Angola, Iraq and Saudi Arabia, while there is a reduction in Venezuela."

Likewise, OPEC maintained its oil demand forecast for 2017 at 96.38 million barrels per day (mb / d).

"Global oil demand in 2017 remains unchanged from last month's (June) report, total growth in oil demand is estimated at 1.27 mb / d, with total consumption of about 96.4 mb / D" says OPEC in its July report.

According to OPEC forecasts, in 2018 the world oil demand will stand at an average of 97.6 mb / d, increasing by 1.26 mb / d.

The report estimates that demand for oil produced by OPEC in 2017 will be 32.3 mb / d, 300,000 barrels a day more than in 2016, while in 2018 it will reach 32.2 mb / d.

At the end of 2016 in Vienna the Organization of Petroleum Exporting Countries and several producing countries that did not form part of it agreed to reduce the common extraction in 1.8 million barrels per day.

Of this total cut, 300,000 barrels per day correspond to Russia.