OPEC’s crude oil production fell by an average of 744,000 barrels per day, according to OPEC’s Monthly Oil Market Report released on Tuesday. Saudi Arabia’s November production fell by the most among its members, by 404,000 bpd, to 10.474 million bpd—Saudi Arabia’s lowest monthly average since May 2022. Overall, OPEC’s average production for November fell to 28.826 million bpd—the lowest average production level since June. Earlier this week, Libya’s oil minister said its oil production was 1.2 million bpd. While OPEC saw its overall crude production fall, non-OPEC liquids production, according to OPEC’s latest report, increased month on month in November by 800,000 bpd to 72.7 million bpd.

Source: Libya Today December 14, 2022 06:43 UTC