OPEC Secretary General HE Abdalla S. El-Badri and Austria's Federal Minister of Finance Michael Spindelegger. Image courtesy of OPEC.

Total output from the Organization of the Petroleum Exporting Countries (OPEC) rose to over 30 million barrels per day last month for the first time since February.

OPEC’s July production averaged 30.13 million bpd, the latest Platts survey found.

Total volume increased by 360,000 bpd, up 190,000 bpd over June.

Platts said OPEC’s numbers were given a boost by increased production in Libya and Saudi Arabia.

Libya’s output rose by 240,000 bpd to 440,000 bpd in July.

However, analysts warned that political unrest in Libya could negatively impact production going forward.

Saudi Arabia increased production by 120,000 bpd to 9.9 million bpd, Platts said.

Other smaller increases came from Algeria and the United Arab Emirates.

Production from Venezuela held steady at 2.3 million bpd.

The rise in total volume offset the combined drop of 170,000 bpd from Angola, Iraq and Nigeria.

In November, OPEC will review its 30 million bpd output ceiling. The ceiling doesn’t include quotas for individual countries.

OPEC members hold 81 percent of the world’s proven reserves.


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