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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC crude production drops to 15-month low

Posted on 01 February 2013

OPEC crude oil production declined to a 15-month low as Saudi Arabia reduced output because of waning demand, a Bloomberg survey showed. Output in the 12-member Organization of Petroleum Exporting Countries slipped 525,000 barrels, or 1.7 percent, to an average 30.479 million barrels a day this month from a revised 31.004 million in December, the survey of oil companies, producers and analysts showed.
The December total was revised 430,000 barrels a day lower mostly because of the change to the Saudi number. ……………………………………….Full Article: Source


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