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.

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