< Arab Finance - News - OPEC+ produces 1.45M bpd below target in March

Market is closed

EGX 30 0.00 0.00%

Count Down to relaunch



OPEC+ produces 1.45M bpd below target in March

OPEC+ produces 1.45M bpd below target in March

OPEC+, which comprises the Organization of Petroleum Exporting Countries (OPEC) and other countries including Russia, produced 1.45 million barrels per day (bpd) s below its output target in March, Reuters reported, citing a report from the producer alliance.

The production was impacted by the Russian output which started to fall due to pressures from imposed sanctions by the West.

Russia’s output was around 300,000 bpd below its target in March at 10.08 million bpd, the report showed.

Compliance with production cuts grew to 157% last March, as compared to 132% in February, the report added.

In March, OPEC+ approved a slight monthly boost in oil output of 432,000 bpd for May.

#Related keywords

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
15.34
Change
04.78
Hold

All rights reserved to Arab Finance 2020 ©

Back to top