Reuters survey: OPEC oil production increased by 150 thousand barrels per day in February

A Reuters survey showed on Tuesday, February 28, that OPEC’s oil production rose this month by about 150,000 barrels per day, compared to January levels.

According to the survey, oil production within OPEC recorded levels of 28.97 million barrels per day, supported by the recovery of oil supplies in Nigeria despite the commitment of major oil producers to the broader OPEC + alliance agreement to reduce production to support the market.

OPEC’s compliance with production cuts in the current month reached 169%, compared to 172% last month.

However, production is still down by more than 700,000 bpd since September.