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London .- Oil production from OPEC increased in July to reach its peak of 2018 due to increased pumping from the Persian Gulf countries and the integration of the group of the Democratic Republic of Congo. Reuters survey, although the increase was limited by deficits in Iran and Libya.
The Organization of the Petroleum Exporting Countries pumped 32.64 million barrels a day in July, according to the consultation, an increase of 70,000 bpd revised level in June and the highest volume this year, with the Inclusion of Congo.
OPEC and its allies agreed last month to increase the offer after US President Donald Trump's request to compensate for the losses caused by the new sanctions against the United States. Iran and the fall in prices, which reached this year 80 dollars a barrel for the first time since 2014.
At the end of June, OPEC, Russia and other countries that do not do so Part of the group agreed to return to 100% compliance with the pump cuts that began in January 2017, after months of declining production in Venezuela and in other countries that pushed for membership above 160%.
Part of the rise in the Saudi supply seems to have occurred in June, when Riyadh took advantage of the storage tanks to increase its supplies to 10.60 million bpd, or close to $ 40 million. a record. The increase has angered Iran and surprised other members of OPEC.
Saudi Arabia said the decision would result in an increase in production of about 1 million bpd.
The cartel's collective commitment to the goals of the offer fell to 111% in July from the revised 116% in June, according to the survey, which implies that the reduction of the group's offer is greater than that agreed by OPEC.
Kuwait and the United Arab Emirates increased production by 80,000 bpd and 40,000 bpd in July, respectively, according to the study.
The increase in the Saudi supply appears to have occurred in June, when Riyadh used storage tanks at 10.60 million bpd, near a historic high. The increase angered Iran and surprised other OPEC members.
Riyadh increased the supply of 50,000 bpd in July compared to the revised level of the previous month, according to the survey, since the internal use of crude oil in refineries and factories 39, energy has increased, while exports have remained close to the June rate.
Production also declined in Venezuela, where the oil industry is short of funds due to the economic crisis, and in Angola, because of declining exports in a context of natural decline in deposits.
The incorporation of the Republic of Congo in June, OPEC added about 320,000 b / d to production and, with the increase of existing members, brought production the group in July to its highest level since October 2017, according to Reuters polls. function (d, s, id) {
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