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OPEC oil production slips in June: Platts survey

Posted on 11 July 2012

Oil production from the Organization of the Petroleum Exporting Countries slipped by 30,000 barrels per day in June from a month earlier on the back of a 150,000 barrels-per-day drop in Iranian output, according to a Platts survey of OPEC and oil industry officials and analysts released Monday.
The survey showed that total OPEC production averaged 31.72 million barrels per day in June, from an estimated 31.75 million in May. The survey estimated that Iranian output dropped to 3.1 million barrels per day in June. “The number that no survey can fully know is how much of Iran’s output is going into storage because sanctions, notably the EU sanctions on shipping, which have really hit Iran’s exports,” said John Kingston, Platts global director of news, in a statement……………………………………….Full Article: Source


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