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Commodities Briefing - Categorized | Market Moves, Oil more

Overall OPEC Feb output little changed as Libya loss offsets gains

Posted on 03 March 2011

From Dow Jones: Crude oil production from the Organization of Petroleum Exporting Countries in February was little changed from the previous month, as production increases in the Gulf countries were largely offset by the loss of output from Libya, according to a Dow Jones Newswires survey.

A big increase in Saudi Arabian oil production to 9 million barrels a day in the last few days of the month, coupled with smaller increases from Iraq, Kuwait, Qatar and the United Arab Emirates, offset the loss of at least half of Libya’s crude production by month’s end due to the growing civil conflict in the country…………………………………….Full Article: Source


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