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HomeTop NewsGlobal oil outages fall to under 3.0 mln bpd in May

Global oil outages fall to under 3.0 mln bpd in May

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Global oil production outages

Global oil production outages fell to less than 3.0 million barrels per day (bpd) in May as higher supplies from Iraq and Iran outweighed worsening disruption in Libya.
Supply outages averaged 2.915 million bpd last month, down from 3.03 million bpd in April and 3.3 million bpd in November.
Iraq has boosted supplies due to higher exports from its southern terminals, despite a lack of shipments from its northern pipeline since early March, according to Thomson Reuters data.
Iran is pumping more thanks to limited sanctions relief as it pursues a rapprochement with the West over its nuclear enrichment programme.
This has helped offset growing supply losses from Libya and persistent outages in South Sudan and Nigeria.
Kazakhstan’s Kashagan oilfield has yet to pump significant volumes and Syria’s civil war is keeping 370,000 bpd off line.
Following is a table listing global oil production outages in millions of barrels per day in the past seven months.

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