The International Energy Agency announced, Tuesday, that non-OPEC + producers are about to increase production by 400,000 barrels per day next year, after a decrease in production by 1.3 million barrels per day this year.
The agency revealed, according to the Russian Sputnik Agency, that global oil supplies rose by one million and 500 thousand barrels per day in November, achieving a total of 92.7 million barrels per day. Thanks to recovery in production in America and Libya.
The agency said that the refineries consumption of crude oil decreased by nearly one million barrels per day last October due to closures caused by maintenance work and hurricanes, noting that Corona vaccines will take several months to affect global demand.
It is worth noting that the “Reuters” news agency reported on Monday that Libya’s oil production reached 1.28 million barrels per day for the first time since the beginning of this year.