{"id":90135,"date":"2024-03-12T07:54:42","date_gmt":"2024-03-12T11:54:42","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90135"},"modified":"2024-03-12T07:54:43","modified_gmt":"2024-03-12T11:54:43","slug":"opec-oil-output-rises-by-90000-bpd-in-february-survey-finds","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90135","title":{"rendered":"OPEC oil output rises by 90,000 bpd in February, survey finds"},"content":{"rendered":"<div>\n<p>LONDON (Reuters) &#8211; The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday.<\/p>\n<p>OPEC and allies, together known as OPEC+, announced a new round of voluntary cuts on Nov. 30 to be made in the first quarter of 2024. As part of this, Saudi Arabia extended its own 1 million bpd cut &#8211; first made in July 2023 &#8211; until the end of the first quarter.<\/p>\n<p>The figures in the first and second columns of the table are in millions of barrels per day. Totals are rounded.<\/p>\n<p>January output was not revised. <\/p>\n<p>February January Change Q1target* Under\/over <\/p>\n<p>output output vs. Jan. target <\/p>\n<p>Algeria 0.907 0.910 -3,000 908000 -1,000 <\/p>\n<p>Congo 0.260 0.270 -10,000 277,000 -17,000 <\/p>\n<p>Eq. Guinea 0.050 0.050 0 70,000 -20,000 <\/p>\n<p>Gabon 0.210 0.210 0 169,000 41,000 <\/p>\n<p>Iraq 4.120 4.150 -30,000 4,009,000 111,000 <\/p>\n<p>Kuwait 2.410 2.410 0 2,413,000 -3,000 <\/p>\n<p>Nigeria 1.600 1.540 60,000 1,500,000 100,000 <\/p>\n<p>Saudi Arabia 8.970 8.990 -20,000 8,978,000 -8,000 <\/p>\n<p>UAE 2.900 2.920 -20,000 2,912,000 -12,000 <\/p>\n<p>TOTAL OPEC 9 21.427 21.450 -23,000 21,236,000 191,000 <\/p>\n<p>Iran 3.050 3.100 -50,000 <\/p>\n<p>Libya 1.150 1.000 150,000 <\/p>\n<p>Venezuela 0.790 0.780 10,000 <\/p>\n<p>TOTAL OPEC 12 26.417 26.330 87,000 <\/p>\n<p>* Output target as announced by the countries making voluntary cuts, or as announced by OPEC<\/p>\n<p>Iran, Libya and Venezuela are exempt from OPEC output agreements.<\/p>\n<p>The Reuters survey aims to assess crude supply to market, defined to exclude movements to, but not sales from, storage. Saudi and Kuwaiti data includes the Neutral Zone.<\/p>\n<p>Venezuelan data includes upgraded synthetic oil. Nigerian crude output includes the Agbami and Egina streams and excludes Akpo condensate. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/commodities-news\/opec-oil-output-rises-by-90000-bpd-in-february-survey-finds-3320414\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday. OPEC and allies, together known as OPEC+, announced a new round of voluntary cuts on Nov. 30 to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-90135","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OPEC oil output rises by 90,000 bpd in February, survey finds | iFintechWorld<\/title>\n<meta name=\"description\" content=\"LONDON (Reuters) - The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=90135\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPEC oil output rises by 90,000 bpd in February, survey finds | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"LONDON (Reuters) - 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