OPEC+ spare production capacity exceeds 5 mbd in September - IEA
Spare oil production capacity of OPEC+ countries stands at historic highs, having exceeded 5 mln barrels per day (mbd) in September, News.Az reports citing the International Energy Agency(IEA).
This concerns all countries of the alliance, excluding Libya, Iran and Russia, the IEA said, adding that OPEC+ nations only had spare production capacity below that level during the pandemic.
Global oil supply fell by 640,000 barrels per day to 102.8 mbd in September, according to the agency.
This concerns all countries of the alliance, excluding Libya, Iran and Russia, the IEA said, adding that OPEC+ nations only had spare production capacity below that level during the pandemic.
Global oil supply fell by 640,000 barrels per day to 102.8 mbd in September, according to the agency.
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