The OPEC countries in June increased oil extraction by 340 thousand barrels - to 32,6 million barrels that is a record since the beginning of year, follows from the July report of International Energy Agency.
So, Saudi Arabia increased production by 130 thousand barrels, for the first time since the beginning of year having reached the level of 10 million barrels a day. Production of Libya rose by 80 thousand barrels - up to 820 thousand barrels a day, an oil supply at the same time reached 1 million barrels a day. Oil extraction in Nigeria grew by 60 thousand barrels - up to 1,59 million barrels.
Due to growth of production in these countries the level of execution of arrangements of the countries of OPEC decreased from 95% in May - to 78% in June, IEA notes.
According to IEA in total Libya and Nigeria increased production on 450 thousand oil barrels a day in relation to October, 2016. Then their production constituted, according to the agency, 510 thousand and 1,45 million barrels a day respectively. Growth of production in these countries which were freed from liabilities to reduce production because of an unstable situation reduced efficiency of measures of OPEC in June from 920 to 470 thousand barrels, emphasize the agency.
The Saudi production in June reached 10,05 million barrels that "all on a hair" is lower than their target objective of reducing in 10,06 million, it is noted in the report. Thus, the level of accomplishment of the plan for reducing production by the kingdom in June constituted 102% against 129% in May.
Growth of oil extraction in Saudi Arabia is explained by seasonal demand growth of the domestic market and also increase in deliveries to the foreign markets, the IEA explain.