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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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A spike in air-conditioning demand has traditionally boosted the volume of crude burned directly in the kingdom’s power plants during the summer months. Nigerian production hit 30-year lows in May as militancy continued in the country’s oil rich Niger Delta. Last summer, Saudi Arabia produced as much as 10.45 million b/d.

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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One is to counter growing domestic demand for natural gas as a power generator. Between 2012 and 2016, Maersk had been working on field development, slated to have cost $1.5 With increased demand for crude oil and petroleum products still shown in all international assessments, the market will need to react.

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