Nicosia - Oil production for the ten main members of the
Organisation of Petroleum Exporting Countries (OPEC) fell in January
by 120,000 barrels per day to 26.87 million, the Middle East Economic
Survey reported Monday.
The drop was due to production losses in Iran and Nigeria, while
Gulf producers maintained the improved production discipline seen in
December, it said.
The Cyprus-based weekly publication said that total OPEC
production, including Iraq and newcomer Angola, reached 30.05 million
barrels per day.
Setting aside Angolan output of 1.5 million barrels per day in the
month, total production was down by 240,000 barrels per day after
Iraqi production fell to a new low in a year of 1.68 million barrels
per day, with exports dropping but local supplies remaining steady.
Iranian production in the month comprised 2.45 million barrels per
day of exports and 1,45 million barrels per day of deliveries to
domestic refiners for a total 3.90 million barrels per day, down from
Decembers 3.95 million barrels per day.
Nigerian production fell further to 2.2 million barrels per day,
the lowest level since last July, due to militant attacks on the
operations of Shell and Eni, which forced the shut-in of additional
crude streams from Brass River.
The MEES report added that militant action is expected to increase
ahead of the April presidential elections, worsening the prospects
fro any of the estimated 600,000 barrels per day of shut-in output to
resume in the near term.
© 2007 dpa - Deutsche Presse-Agentur 
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