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Platts: In December, OPEC Crude Oil Production Increased Slightly By 5 Million Barrels To 32.4 Million Barrels A Day
Jan 10, 2018

Data released by Platts on Monday (January 8) showed that Venezuela's crude oil production in December last year dropped to its lowest level since 2002 as the country's severe economic crisis has caused a serious shortage of funds for the national oil companies.

Detailed data show that last December the crude oil output in this Latin American country decreased by 10 million barrels a day to 1.7 million barrels a day, it’s the lowest level since the end of 2002.

Related data show that the crude oil production of OPEC in December increased slightly by 5 million barrels a day, due to countries such as Iraq, Nigeria and other countries increased output about 60,000 barrels a day, and Algeria, Angola, Iran and Libya and other countries also push up production slightly. In addition, the crude oil production of Saudi in December fell 70,000 barrels a day.

Platts Energy Information pointed out that the overall OPEC output in December was 32.4 million barrels a day.

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