Qatar reduced oil production by 6,700 barrels per day (bpd) in January 2018 under the decision taken by the Organization of Petroleum Exporting Countries (OPEC) which requires members to trim oil production.
Oil output from the world’s biggest exporter of liquefied natural gas (LNG) reached 596,000 bpd in January down from 602,000 bpd in December 2017, OPEC’s monthly bulletin issued on Monday showed.
Apart from Qatar, either other countries decreased their oil production during January, led by Venezuela with 47,300 bpd.
Moreover, oil output from the UAE and Iran declined by 6,300 bpd and 3,400 bpd, respectively, the data showed.
Meanwhile, five countries raised their production topped by Iraq with 30,200 bpd, followed by Saudi Arabia and Libya with 23,300 bpd and 21,000 bpd, respectively.
OPEC’s total crude oil output dropped by 8,100 bpd in January, registering 32.30 million bpd for the whole month.