Mubasher: The oil output of Kuwait declined to 2.709 million barrels per day (bpd) in March, according to the OPEC monthly report.
Last month, a group of six countries reduced their oil production, including Saudi Arabia, Venezuela, and Iraq, whose output went down 324,000 bpd, 289,000 bpd, and 126,000 bpd, respectively.
Iran, the UAE, and Algeria also cut their production by 28,000 bpd, 9,000 bpd, and 8,000 bpd, respectively.
On the other hand, six oil producers increased their output in March, among them Libya, which upped their production by 196,000 bpd.
OPEC’s output declined by 534,000 bpd last month, marking its lowest level in four years, reaching 30.02 million bpd.
