Saudi Arabia, Kuwait Decreased Oil Production in November – OPEC

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Oil-rich Saudi Arabia and Kuwait showed an oil production cut in November amid the global OPEC decision on oil output, the organization said in its monthly report.

Oil production. - Sputnik International
OPEC Secretary-General Expects Stability in Oil Market at Beginning of 2017
MOSCOW (Sputnik) — Oil-rich Saudi Arabia and Kuwait have showed a cut in their oil production levels in November amid the global deal on oil output curtailment between The Organization of the Petroleum Exporting Countries (OPEC) and non-cartel members, the organization said in its monthly report.

"OPEC crude oil production in November increased by 151 tb/d compared to the previous month to average 33.87 mb/d. Crude oil output increased the most in Angola, Nigeria and Libya, while production in Kuwait and Saudi Arabia showed the largest decline," the December report read.

According to OPEC, Riyadh’s oil production decreased by 47,200 barrels a day to 10.512 million barrels, while Kuwait’s oil extraction amounted to 2.787 million barrels daily, with the decrease of 51,300 barrels in November.

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