oil production

In its monthly market report published earlier, Organization of the Petroleum Exporting Countries (OPEC) said that demand for crude from its own 14 members was expected to rise to average 33.0 million barrels per day in 2017, representing a gain of 1.1 million barrels per day over the current year. "The contraction seen this year in non-OPEC supply is expected to continue in 2017 but at a slower pace," OPEC said. "Market conditions will help remove overall excess oil stocks in 2017." Output from OPEC’s 14 nations increased by 264,100…

Daily production climbed to highest since end of November 2011 Exports rose more than 40% from March to 2 million barrels/day In an interview with IRIB News Agency, Managing director of National Iranian Oil Company announced that Iran has reached to pre-sanction level of crude oil production and export. Roknodin Javadi said: during the last month (30th Mar-30 Apr) country's crude oil export has increased to more than 2 million bpd besides we are experiencing a significant rise in crude oil production and in near future we will reach the…