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Media: weaker production in Nigeria pulls down OPEC oil output in May

by ChemOrbis Editorial Team -
  • 10/06/2016 (13:57)
According to a survey conducted by Bloomberg, OPEC’s crude oil production fell to 32.71 million barrels per day (bpd) in May from 32.83 million bpd in April.

The decrease was driven by lower output from Nigeria, whose crude oil production declined by 160,000 bpd to 1.45 million bpd due to pipeline attacks that are disrupting the country’s oil production. The Bloomberg survey also revealed that Kuwait’s oil production rose in May.

Meanwhile, the Energy Information Administration (EIA) reported in its short-term energy outlook that crude production in the US declined by 950,000 bpd from 9.69 million bpd in April 2015 to 8.6 million bpd in April. The EIA forecasts that US oil production will decrease by another 650,000 bpd by September.
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