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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
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BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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