In May, 2012, oil extraction of the member states of the Organization of Petroleum Exporting Countries reached the maximum since September 2008 and equalled 31.8 million barrels per day.

Referring to OPEC reports, the Reuters Agency has announced that in May, 2012, oil extraction of participants of the Organization of Petroleum Exporting Countries reached the maximum since September 2008 and equalled almost 32 million barrels per day. The main share of this increase falls to Saudi Arabia. In May, the largest oil exporter of OPEC increased extraction by 100 thousand barrels to 10:1 million barrels per day. For comparison, in April the amount of oil extraction in Russia equaled 10:31 million barrels per day. Amid the increase in the oil extraction to the 4-year maximum, prices for raw materials decreased a lot. The price for Brent oil, which cost 120 US dollars for three months, dropped sharply in May. On May 29th, Brent oil cost 107.6 US dollars.
 

caspionet