After the sanctions of America against Iran .. Bloomberg: Saudi Arabia maintains the stability of the production of "OPEC"

Economy and stock exchange

Saudi Arabia replaced Iran in OPEC's regular production in May to succeed in bridging the gap left by US economic sanctions against Tehran..

According to a poll of officials, analysts and shipping data, Iran's production of oil fell in May to its lowest level since 1990 after US President Donald Trump's administration took measures threatening to punish any company or state for trade with the United States. Iran.

However, the strengthening of production by Saudi Arabia and the increase in the production of Libya and Iraq, members of OPEC, managed to maintain the total production of the Organization unchanged in May last month from the previous month, noting that OPEC pumps about 40% of the world supply of Oil.

Iran's output fell by 230,000 barrels to 2.32 million bpd. In return, Saudi Arabia raised its output by 170,000 barrels to 9.96 million bpd, leaving OPEC's total output of 14 countries unchanged at 30.26 million barrels of oil Daily.

The newspaper pointed out that Trump tightens the screws on Iran's oil exports amid a dispute over Tehran's nuclear program, adding that Washington has resorted to its allies in Riyadh to maintain the world oil markets stretched out their needs.

These developments pave the way for a controversial meeting when OPEC countries and their partners meet in the coming weeks to plan production levels in the second half of this year, with Iran warning that the organization is in danger of collapse due to aggressive moves by some members.

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