OPEC says oil output falls by 86,000 bpd on month in March

MOSCOW, Apr 13 (PRIME) -- The OPEC countries decreased their oil production by 86,000 barrels per day on the month to 28.8 million barrels per day in March to fulfill the OPEC+ oil production cut deal by 182%, the OPEC said in a monthly report on Thursday.

OPEC slightly decreased its outlook for the combined oil production outside the alliance by 10,000 barrels per day to 67.19 million barrels per day in 2023.

The alliance left its 2023 forecast for a fall of liquid hydrocarbons production in Russia at 750,000 barrels per day, production should amount to 10.3 million barrels per day this year.

OPEC maintained its global oil demand growth forecast for 2023 at 2.3 million barrels per day, and it should amount to 101.9 million barrels per day.

Commercial reserves of oil and oil products in the countries of the Organization for Economic Cooperation and Development (OECD) expanded by 14.1 million barrels on the month in February, and were above the average reserve level of 2015–2019 by 18 million barrels.

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