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OPEC in March 2019 cut oil production to 2.9 million barrels per day from October 2018

"Oil of Russia" 12.04.2019 at 10:36

OPEC cut oil production in March 2019 550 thousand barrels per day compared to February of the current year — to 30,13 million barrels a day, according to the monthly report by the International energy Agency (IEA).

"In March, production of crude oil OPEC fell by 550 thousand barrels per day to 30.1 million barrels a day in the light of further production cuts in Saudi Arabia and its significant drop in Venezuela. The volume of production in Saudi Arabia fell to its lowest level in two years," the report says.

According to the IEA, in February OPEC production was 30,68 million barrels per day.

According to the report of the organization from November 2018, the level of production of OPEC countries in October 2018 was $ 32,99 million barrels per day.

Thus, from October 2018, a decline of 2.86 million barrels per day.

Source: RNS