• Home
  • OPEC’s May Production Drops
Reuters survey showed that OPEC’s 14 members have pumped 30.17 million bpd in May, 60,000 bpd less than April and the lowest in four years. The survey suggests that Saudi Arabia has pumped oil more than the previous month, yet it was less than its quota in the OPEC-led production cut deal and not enough to compensate for the loss of Iranian oil exports.

OPEC’s May Production Drops

Reuters survey showed that OPEC’s 14 members have pumped 30.17 million bpd in May, 60,000 bpd less than April and the lowest in four years.

The survey suggests that Saudi Arabia has pumped oil more than the previous month, yet it was less than its quota in the OPEC-led production cut deal and not enough to compensate for the loss of Iranian oil exports.

Subscribe
Subscribe to Receive Latest Updates from GIF.