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09:00, 13-Jun-2018
OPEC oil production rises in May
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The Organization of the Petroleum Exporting Countries (OPEC) pumped more oil in May before their next meeting, while de facto oil leader Saudi Arabia increased its production, the oil cartel's latest monthly report showed on Tuesday.
OPEC's crude oil production increased by 35,000 barrels a day in May compared to April after months of low oil production, and the total amount was 31.87 million barrels per day in May.
Saudi Arabia, the largest oil pumper in OPEC, was the biggest contributor to the production increase, pumping 85,500 barrels per day more in May compared to April.
Saudi Energy Minister Khalid al-Falih and Russian Energy Minister Alexander Novak attend a meeting of OPEC and non-OPEC members to assess compliance with production cuts and to discuss potential long-term cooperation, in Jeddah, April 20, 2018. /VCG Photo
Saudi Energy Minister Khalid al-Falih and Russian Energy Minister Alexander Novak attend a meeting of OPEC and non-OPEC members to assess compliance with production cuts and to discuss potential long-term cooperation, in Jeddah, April 20, 2018. /VCG Photo
The output ceiling of OPEC was 32.5 million barrels a day, which has lasted for more than one year to slash the global crude oil inventory.
OPEC is to hold meeting in Vienna on June 22 to discuss the oil output ceiling for the coming months.
Source(s): Xinhua News Agency