OPEC increased oil production in November to the highest level since April 2012

Moscow. December 10. The organization of countries-exporters of oil has boosted oil production in November 2015 to its highest level in more than three years, reports Bloomberg.

According to a Thursday report by OPEC, the countries belonging to the organization, increased oil production last month on 230,1 thousand barrels per day (b/C) – 31,695 million b/d, the highest level since April 2012.

In particular, Iraq increased oil production in last month of 247.5 thousand b/d to 4.3 million b/d, while Saudi Arabia has cut oil output by 25.2 thous. b/C – 10,13 million b/d.

OPEC plans to produce in 2016 to average 30.8 million b/d. Thus, the November level of production above that figure at approximately 900 thousand b/d.

According to the forecast organization, oil production in countries outside OPEC next year will be reduced by 380 thousand b/d – up to 57,14 million b/d.

As reported, at the next OPEC meeting held on 4 December in Vienna, decided not to adhere to the established quotas and intends to maintain the actual level of production, amounting to about 31.5 million barrels a day.