OPEC: Iraq, Libya and Nigeria behind the rise in oil production in May


The Organization of Petroleum Exporting Countries (OPEC) has revealed that the level of production rose last month, under pressure from Iraq, Libya and Nigeria.
In its May report released on Tuesday, the Organization said production rose last month by 336.1 thousand barrels per day to 32.139 million barrels, compared to 31.803 million barrels in April before.

Libya's oil production rose by 178.2 thousand barrels last month, as it increased in Nigeria by 174.2 thousand barrels, while in Iraq rose to 44.4 million barrels.
By 1:25 pm GMT, the price of Brent crude futures fell 0.4% to $ 48.09 a barrel.
Nymex crude futures fell 0.3% to $ 45.82 a barrel.


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