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A survey conducted by the agency showed “Reuters” Oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose last June from its lowest level in more than two decades, with member states in the Gulf region beginning to resume supplies that had been halted during the war on Iran and the resulting actual closure of the Strait of Hormuz.
According to the survey, the production of OPEC, which includes 11 members, increased by 3.3 million barrels per day in June compared to the previous month, bringing the total to 19.43 million barrels per day.
This number reflects a recovery compared to the previous month, which Reuters polls showed recorded the lowest monthly quantity since at least the year 2000, as the volume of production was much lower than the levels recorded during the “Covid-19” pandemic in 2020 when global demand collapsed.
These mentioned numbers exclude the Emirates, which had Withdrew from OPEC As of the first of last May.
Kuwait and Iran lead OPEC’s oil production jump
The study showed that the largest increases in production volume were recorded in Kuwait and Iran, after the United States ended the blockade on Iranian ports, which had previously imposed forced reductions in production.
In the same context, sources who participated in the survey reported that the amount of production also increased in Saudi Arabia and Iraq, and both Nigeria and Libya – whose shipments were not affected during the war – also increased their oil production levels.
It is noteworthy that 7 members of the “OPEC+” alliance, which includes OPEC countries and allies from outside it, including Russia, had previously agreed to increase production in June, but the war on Iran made implementing that agreement impossible at the time.
The Reuters poll bases its results on data on flows issued by the London Stock Exchange Group, in addition to information derived from other companies that track shipment flows, such as Kpler, as well as information and sources within oil companies, OPEC, and sector consultants.
