Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) has announced that the Vienna-based energy organization plans to provide additional crude oil output from Iran.Abdalla el-Badri said on Wednesday that OPEC expects gradual increases fromIran and Iraq, while Libya could also enhance its oil production by as much as 1 million barrels within a month, Bloomberg reported.
There is no problem for OPEC to absorb any production increment from Iraq and Iran in 2014, he said. When Libya output comes back, we will accommodate it because its production is in our numbers.
Badri further noted that the global demand will increase by 1.1 million barrels a day in 2014, and OPEC will produce up to 30 million barrels of crude oil a day for the rest of the year.
According to a report by Reuters, Iranian crude exports, excluding to Japan, reached 1.28 million barrels per day (bpd) in March and included sales to top buyers such as China and India as well as South Korea, Turkey and Syria.
The report quoted an informed source, who spoke on condition of anonymity, as saying that there has been an increase of about 14 percent in Irans crude exports to India in March, as compared to February.
The crude exports were around 1.4 million bpd in February.
By Press TV
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