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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC February output rises for first time since August

Posted on 01 March 2013

OPEC crude output rose for the first time in six months as rising Libyan production outpaced a cut by Saudi Arabia, which has implemented a program aimed at curbing excess supply and supporting prices, a Bloomberg survey showed.
Output in the 12-member Organization of Petroleum Exporting Countries increased 97,000 barrels, or 0.3 percent, to an average 30.699 million barrels a day this month from a revised 30.602 million in January, the survey of oil companies, producers and analysts showed. The January total was revised 123,000 barrels a day higher, mostly because of a change to the Kuwaiti production estimate………………………………………..Full Article: Source


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