OPEC's oil production increased by 290,000 barrels in November

The monthly oil market report of the Organization of Petroleum Exporting Countries (OPEC) has been published.

OPEC global oil supply rose to approximately 98 million 280 thousand barrels a day, an increase of 880 thousand barrels per day compared to the previous month.

In this period, daily oil production in non-OPEC countries increased by 590 thousand barrels and reached approximately 70 million 560 thousand barrels.

OPEC's daily crude oil production, on the other hand, increased by 290 thousand barrels and amounted to approximately 27 million 720 thousand barrels.

OPEC's share in global oil production was recorded as 28.2 percent.

CRUDE OIL PRODUCTION IN OPEC INCREASED HIGHEST IN SAUDI ARABIA AND IRAQ
During this period, crude oil production in OPEC increased the most in Saudi Arabia and Iraq. Daily production increased by 101 thousand barrels in Saudi Arabia and 91 thousand barrels in Iraq last month compared to the previous month. However, production decreased by 38 thousand barrels in Angola and 15 thousand barrels in Libya.

OPEC kept its forecast for global oil demand constant for this year and next year. Accordingly, global oil demand will increase by 5.7 million barrels on a daily basis compared to last year and reach 96 million 440 thousand barrels this year.

Next year, global oil demand will increase by 4 million 150 thousand barrels and will reach approximately 100 million 590 thousand barrels per day.