Africa-Press – Seychelles. The Organization of Petroleum Exporting Countries and allies (OPEC+) saw, in December 2022, combined oil production increase by over 140,000 barrels per day (KBPD), totaling 42.71 million barrels per day (MBPD) , but is still 1.8 MBPD short of the target.
Of this volume, according to data published by the national oil and gas consultant, PetroAngola, Angola participated in the volume with approximately 1,062 MBPD.
The forecast target of OPEC+ was 44.55 MBPD.
Production in Russia, according to the publication that remained almost unchanged, while Nigeria recorded a recovery in production to a high of several months, without however advancing numbers.
OPEC production is estimated to have increased by 120 KBPD in December compared to November due to an improvement in Nigerian production.
Despite this increase observed last month, the group is still 780 KBPD below the collective target of the 10 members linked to the OPEC+ pact.
According to PetroAngola, the production deficit decreased slightly compared to November, where the 10 OPEC producers produced around 800 KBPD, below the quota stipulated by the organization.
OPEC will release official production figures this week in its Monthly Oil Market Report (MOMR) for January, according to the national oil, gas and renewable energy consultant.
On the other hand, below-quota production levels may continue, as the largest member of OPEC+, Russia, is expected to see a decrease in its production, as European Union (EU) embargoes and oil price limits oil and products come into force in February.
At the end of December, Russia’s Deputy Prime Minister, Alexander Novak, stated that Russia could increase its oil production from 500 KBPD to 700 KBPD, in response to the crude price ceiling.
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