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OPEC Output Disrupted in July on Nigeria Attacks, Libya Dispute

Posted on 03 August 2016

OPEC’s crude oil output was disrupted in July by militant attacks in Nigeria and political disputes in Libya, according to a Bloomberg News survey. Output from the 13 established members of the Organization of Petroleum Exporting Countries, excluding new entrant Gabon, fell by 80,000 barrels a day last month, a Bloomberg survey of analysts, oil companies and ship-tracking data showed.
Nigeria led the decline with a 70,000-barrel-a-day monthly drop to 1.52 million, while Libya and Saudi Arabia reduced output by 20,000 and 40,000 barrels a day respectively………………………………………..Full Article: Source


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