facebook
twitter
rss
account
search
search
 

OPEC majors showing lower exports

May 20, 2013 at 6:03 AM   |   Comments

RIYADH, Saudi Arabia, May 20 (UPI) -- Several of the largest oil producers in the OPEC cartel exported less crude oil in March than they did the previous month, figures indicate.

The Joint Organizations Data said Saudi Arabia in March exported around 7.4 million barrels of oil per day, down about 30,000 bpd from the previous month, Bloomberg News reports.

The Saudi Press Agency last week reported that demand for crude oil was lower because of poor economic figures from Europe, where Germany posted economic growth of 0.1 percent.

The Organization of Petroleum Exporting Countries said in its monthly report for May that the prospect for a second quarter recovery in the eurozone "remains to be seen."

OPEC said demand for crude oil from its members would average around 29.9 million bpd for 2013, a decline from last year's estimate.

Kuwait posted a 6 percent decline in exports to 1.85 million bpd for March while Venezuela exported 1.55 million bpd in March, its lowest level for the year.

JODI is overseen by the International Energy Forum, which has headquarters in Saudi Arabia.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
2
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
3
Pizza Hut hoping the "Skinny Slice" will mean big bucks
4
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
5
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
Trending News
Video
x
Feedback