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OPEC oil production reaches 29.94 mln bpd in January

Posted on 04 February 2014

OPEC’s (Organization of the Petroleum Exporting Countries) oil production reached an average of 29.94 million barrels per day in January, Reuters reported. January’s expansion in oil output was a contrast to December’s production of 29.63 million bpd - the lowest since May 2011 for OPEC when the average was 28.90 million bpd.
Oil output from Iran gained 50,000 bpd to reach 2.75 million bpd in January. Previously, OPEC said it could handle a rise in oil supply from Iran if sanctions that restrict oil output are loosened, The Wall Street Journal reported………………………………………..Full Article: Source

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