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FINANCIAL NEWS
Iraq, KSA clinch 1st places upon whooping oil exports
17 Jun 2016
(MENAFN) OPEC oil output has went up in November from the prior month led by a recover in Iraqi exports after bad weather had temporarily halted supply growth from the group’s second-largest producer.
Accordingly, the surge illustrates the Organization of the Petroleum Exporting Countries is once again pumping close to a record high as Saudi Arabia and other big producers focus on market share.
OPEC supply has risen in May to 31.77 million barrels per day (bpd) from 31.64 million in April, and it is worth mentioning that it enhanced production by about 1.50 million bpd since its May-2015 policy shift.
Moreover, the largest monthly growth in production has come from Iraq, the world’s fastest growing source of supply growth this year, as its exports from southern terminals, have risen in May to at least 3.06 million bpd.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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