OPEC oil production falls by 350,000 b/d due to 162,000 b/d less from Libya

OPEC post mortem

BancaMarch| OPEC oil production has fallen by 350,000 b/d. According to the cartel’s report, crude oil production has fallen by 350,000 barrels per day between December and January to 26.3 million barrels per day. The main reduction is due to 162,000 barrels per day less from Libya, as a result of internal conflicts in the country. Kuwait and Iraq have also seen their production fall sharply by 109,000 and 98,000 bpd, respectively.

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