Gulf oil exporting countries increase April’s output

03 Jul 2011

(MENAFN) The International Energy Forum (IEF) said that in April, most of the Gulf oil exporting countries raised their oil output, mainly to compensate the shortage which resulted from the disruption of Libyan supplies, reported Emirates 24/7.

The Riyadh based agency added that in the month, Saudi’s oil production rose to 8.82 billion barrels per day (bpd) from 8.655 million bpd in March, but recorded the highest oil output in February which reached around 9.02 million bpd. Furthermore, in May and June, it was believed that the Kingdom maintained its high production to offset the disruption of Libyan crude exports.

It also said that Kuwait increased its 2011’s production from 2.38 million bpd in January to 2.42 million bpd in February and 2.46 million bpd in March, whereas its production in April grew to 2.5 million bpd. On the other hand, Oman’s production fell to 877,000 bpd in April from 885,000 bpd in March.

It is worth noting that the Kingdom of Saudi Arabia, which controls nearly three million bpd in idle capacity, may pump more crude to restrain increasing oil prices.

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