Arab countries accounted for 78% of OPEC’s oil production in August

Today, Monday, the monthly report from the Organization of Petroleum Exporting Countries (OPEC) showed that the organization’s oil production increased by 151,000 barrels per day, or 0.57%, during last August, compared with in July 2021, to reach 26.76 million barrels. per day, compared to 26.61 million barrels per day.

According to an analysis conducted by Al Arabiya.net on OPEC data based on secondary sources, Arab member states of the Saudi-led organization accounted for 77.89% of OPEC production last August, up from 77.41% in July 2021.

The total production of the Arab countries in “OPEC” last August was 20.85 million barrels per day, compared to 20.6 million barrels per day in July 2021, an increase of 245,000 barrels per day.

The list of Arab countries in “OPEC” includes 6 countries: Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Algeria and Libya, among the 13 member countries of “OPEC”.

The increase in the production of “OPEC” and Arab countries came with the support of the increase in Iraqi production of about 90,000 barrels per day, bringing production to 4.06 million barrels per day in August 2021.

Production from Saudi Arabia, OPEC’s largest oil producing country, increased by about 69,000 barrels a day last August, bringing its production to 9.49 million barrels a day, up from 9.42 million. barrels per day in July 2021.

Likewise, the UAE’s oil production increased by 55,000 barrels per day, bringing its production to 2.78 million barrels per day, up from 2.72 million barrels per day in July 2021.

Kuwait’s oil production increased by 17,000 barrels a day, bringing its total production to 2.44 million barrels a day last August, up from 2.42 million barrels a day last July.

Algeria recorded the lowest growth rate among the Arab OPEC countries of 9,000 barrels per day, bringing its production to 920,000 barrels per day in August 2021.

Arab countries accounted for 78% of OPEC’s oil production in August

OPEC countries production

Nigeria reduced its production by 114,000 barrels per day last August, to record its production of 1.27 million barrels per day, up from 1.38 million barrels per day in July 2021.

The Organization of Petroleum Exporting Countries, “OPEC” and other producers, including Russia, the group known as OPEC +, agreed in early September 2021 to continue the policy of phasing out production cuts. record adding 400,000 barrels a day each month to the market.

The OPEC + group unanimously concluded the previous meeting to keep the production policy unchanged, setting October 4 as the date for the next meeting of the production policy review group, according to a statement released by “OPEC +”.

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