IOU reports on global crude oil production

Jul 31, 2001 02:00 AM

The Italian Oil Union announced that the average daily production of crude oil in the first quarter this year stood at 75,615,000 barrels worldwide. The union said the amount of crude oil produced showed a growth of 2.7 % compared to the figure for the corresponding period last year.
It said that the figure dropped to 75,245,000 barrels in April. An Italian Oil Union official told that OPEC member states accounted for 30,825,000 barrels of the total world output. The source said the total amount of oil produced by OPEC members showed 5.3 % growth in the January-March period.

Non-OPEC oil producers produced 44,790,000 bpd of crude oil on average in the first quarter of the year. The amount of oil produced by non-OPEC members in the period showed 1 % growth compared to the figure for the same period the year before.
Based on the union's estimates, Saudi Arabia with 7,985,000, Russia with 6,700,000 and the US with 6,020,000 bpd stood the first through third top oil producers in the first quarter of this year. Iran, Norway and China with 3,750,000, 3,315,000 and 3,210,000 barrels of crude oil production respectively in the period were the fourth to six top producers in the period. The US and China cut their output in the first quarter of the year.

Source: Asia Pulse
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