This is while the amount of oil produced by OPEC member states in March 2023 registered a decrease of 140,000 barrels per day (bpd), the report added.
In its monthly report of the global oil market, the agency announced that OPEC member states produced 29.90 million bpd in March.
According to this report, the oil produced by eight OPEC member states including Iran did not change in this period compared to a year earlier.
However, four OPEC member states faced a production slump in this period while Venezuela’s oil output increased in March as compared to a month earlier.
Algeria, Angola, Iraq and Nigeria are four OPEC member states whose oil production decreased in March while oil production by Iran, Saudi Arabia, Congo, Equatorial Guinea, Gabon, Kuwait and Libya remained unchanged.