Business | Oil & Gas

Opec output rose in May

Saudi Arabia increased its output by 125,000 barrels a day

  • Zawya Dow Jones
  • Published: 18:15 June 4, 2013
  • Gulf News

London: Opec oil production rose in May as an increase in Saudi Arabian flows more than offset lower Iranian output, a Dow Jones Newswires survey of industry sources and analysts showed on Monday. Crude-oil production from the Organisation of the Petroleum Exporting Countries averaged 30.575 million barrels a day in May, up 109,000 barrels a day from 30.466 million barrels a day in April.

Iran’s oil output has been hit by mounting sanctions on its exports and production equipment. But “Saudi Arabia increased its output by 125,000 barrels a day to 9.4 million barrels a day ahead of the direct crude burning season and the ramping up,” of the Manifa field, Vienna-based consultancy JBC Energy GmbH said in a note last week.

Gulf News
Retail Gold Rate
Business Editor's choice

More from Popular in Economy

Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. ‘Better English equals better pay’

  2. Samsung delays Tizen launch

  3. Oil slides despite geopolitical jitters

  4. Saudi market reforms invite access to oil growth

  5. Industrial rents in Dubai climb