In July, global oil supplies reached 100.5 million bpd, the highest since January 2020.
In July, global oil supplies reached a post-pandemic high, according to data from the International Energy Agency (IEA).
“Global production increased by 1.4 million b/d to 100.5 million b/d after the completion of planned repairs in the North Sea, Canada and Kazakhstan, while Saudi Arabia increased production in line with the OPEC + increase. The supply from Russia has also slightly increased,” the report said.
The agency predicts that global oil supply will average 100 million b/d this year.
Recall that the leaders of the EU countries agreed on the sixth package of sanctions against Russia for its aggression in Ukraine, in particular, they agreed to impose an embargo on the import of two-thirds of Russian oil.
The G7 countries intend to impose restrictions on the price of Russian oil at the beginning of winter.
But, according to media reports, Mediterranean countries are secretly making record purchases of Russian oil.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.