Saudi Arabia, Kuwait increase their oil production

Both Saudi Arabia and Kuwait increased the production of OPEC of more than 200,000 barrels daily this month and thereby total production of OPEC reached 30.2 million barrels daily.

A source in OPEC said that the organization total production might increase to 30.5 million barrels daily as from next July with its efforts to enhance oil supplies to withstand the increase for demand in winter.

The source added that Saudi Arabia's current production reaches 9.65 million barrels daily with an increase of 150,000 barrels daily over the figures of April. However, Kuwait's production tolls 2.65 million barrels daily in comparison with 2.58 million barrels daily in April.

The source said that efforts of the Gulf members will increase as from July when OPEC production will be increasing to 30.5 million barrels. He said that a large part of additional supplies estimated at 300,000 barrels daily might come from Saudi Arabia, the largest oil exporter in the world.