Despite increasing production in Libya and Nigeria, which saw May’s production within OPEC rise by 336,000 barrels per day, the cartel’s exports in June declined compared to the month of May and was below the October 2016 levels for a fourth time this year, according to data provided by Kpler.

In the month of May, OPEC exported about 25.424 million barrels of crude oil per day and in June, it declined to 25.187 million barrels per day. Both figures are below the 25.493 million barrels, seen in October last year, when OPEC for the first time declared a production cut of 1.2 million barrels per day, beginning this year.

In June 2017, Saudi crude and condensate exports jumped by 657,000 barrels per day (bpd) compared to May, and stood at 7.205 million bpd, the level was 171,000 bpd lower than the October 2016 exports. Exports from Libya increased by 77,000 bpd in June compared to May, to 703,000 bpd. These increases, however, were offset by falling exports from Algeria, Kuwait, and most notably the UAE and Iran. Algeria’s exports fell by 178,000 bpd in June over May, the UAE crude and condensate exports plunged 363,000 bpd to 2.213 million bpd, Kuwait’s exports dropped 209,000 bpd to 2.053 million bpd, and Iranian exports slumped by 226,000 bpd to 2.31 million bpd. The table below details the exports from OPEC members,