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OPEC oil output hits 2-year low in October

Posted on 04 November 2013

OPEC’s oil output has fallen below 30 million barrels per day (bpd) for the first time in two years in October, a Reuters survey found, as near-record Saudi Arabian output failed to offset disruption in Libya and lower supply from Iran and Nigeria.
Supply from the Organization of the Petroleum Exporting Countries has averaged 29.90 million bpd, down from a revised 30.01 million in September, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants………………………………………..Full Article: Source


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