Qatar’s oil production jumps by nearly 10 per cent

Qatar’s oil production levels increased by almost 10 per cent in February, to 692,000 barrels per day according to data released by QNB.  Qatar had produced 637,000 bpd in January and ramped up production levels in February by 55,000 bpd.

The increased production comes as key producers are set to meet in Doha to attempt to reach a wide ranging production agreement.

Representatives from Saudi Arabia, Russia, Venezuela and other key producers will converge on Doha next week to discuss the deal. The global oil market is currently oversupplied by around 1.5 million barrels per day and it is hoped that an agreement can be reached to try and ease supply levels.

Qatar is a key OPEC producer and previously pumped as much as 2 million barrels per day, as recently as 2014.