OPEC crude oil production increased by 264 thousand barrels per day (b/d) to 32.86 million b/d in June, according to the organization's Tuesday report.
Global oil supply surged by 400 thousand b/d to average 94.33 million b/d in June.
'The increase of both non-OPEC supply by 130 thousand (b/d) and OPEC crude oil production by over 260 thousand b/d in June led to the increase global oil output,' the report says.
'The share of OPEC crude oil in total global production increased slightly to 34.8 percent in June compared with the previous month at 34.7 percent,' the report shows.
Last month, 'Crude oil output increased mostly from Nigeria, Iran, Saudi Arabia, Libya and United Arab Emirates, while production showed declines in Venezuela and Iraq,' according to the organization.
Iran steadily increased its production capacity, reaching 3.6 million b/d of oil in June, an increase of 77 thousand b/d from May.
In Nigeria, output showed the most increase in the group of 98 thousand b/d to reach 1.5 mb/d.
On June 2, OPEC approved Gabon’s request to rejoin the organization and adjusted the figures in the report to reflect the new member's production data. Output in Gabon dropped by 1 thousand b/d in June to total 214 thousand b/d.
'Demand for OPEC crude in 2016 is expected to average 31.9 mb/d, an increase of 1.9 mb/d over last year,' OPEC says.
In 2017, demand for OPEC crude is projected at 33 mb/d, a gain of 1.1 mb/d over the current year.
Non-OPEC oil supply will contract by 880 thousand b/d to average 56.03 mb/d in 2016.
The main reasons for the drop are given as 'lower output of Canada (driven by wildfires), US crude oil, Other OECD Europe (mainly Italy), Colombia, Australia and China, all of which were partially offset by higher-than-expected growth in Mexico, the U.K., Brazil, Congo, Russia and Azerbaijan,' the report highlights.
In 2016, world oil demand is projected to rise by 1.20 mb/d to around 94.2 mb/d, while in 2017 it is expected to reach 95.33 mb/d.
By Zeynep Beyza Kilic
Anadolu Agency
zeynep.karabay@aa.com.tr