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OPEC output lowest since June 2011

Posted on 03 September 2013

OPEC’s oil production fell to its lowest level since June 2011 in August as protests at many of Libya’s key oil exporting ports saw the country’s output half. Crude-oil production from the Organization of Petroleum Exporting Countries averaged 30.170 million barrels a day in August, down about 165,000 barrels a day from 30.335 million barrels a day in July.
An increase in Saudi Arabia’s output to 9.975 million barrels a day, the Kingdom’s highest level since June last year according to data compiled by the Wall Street Journal, wasn’t enough to offset substantial declines in Libya’s production as strikes and protests roiled the country’s oil industry………………………………………..Full Article: Source


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