OPEC+ Crude Output Declines 

OPEC+ Crude Output Declines 
OPEC+ Crude Output Declines 

The OPEC+ coalition's crude oil production fell by 80,000 barrels per day in February, the latest Platts survey by S&P Global Commodity Insights found, with volumes dropping in Iraq, Angola and Kazakhstan.
The drop came despite a small increase in Russian output of 10,000 bpd to 9.86 million bpd, as the key OPEC ally continued to show resilience to western sanctions targeting its oil sector, though Russia’s Deputy Prime Minister Alexander Novak has said March volumes are likely to be cut by 500,000 bpd, S&P Global reported.
Overall, OPEC's 13 members pumped by 29.03 million bpd, down 60,000 bpd from January, while the bloc's Russian-led partners added 13.64 million bpd, down 20,000 bpd.
Largest producer Saudi Arabia increased output to 10.46 million bpd, while Nigeria hit its highest volume in a year, at 1.45 million bpd, with higher loadings in the month.
Downward pressure on OPEC production came from Iraq and Angola. 
Iraqi production fell by 150,000 bpd to 4.33 million bpd. Flows from the port of Ceyhan were suspended for a few days on pipeline repairs as a result of the Feb. 6 earthquake that hit Turkey and Syria. 
Maintenance at the West Qurna 2 project also reduced output.

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