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OPEC production may slip in August after July’s record-high, warns UBS

Posted on 17 August 2016

OPEC crude oil production hit an eight-year peak in July, but may fall this month amid turmoil in major member countries, UBS said on Tuesday.
OPEC output rose by 150,000 barrels per day (kb/d) to 33.39 million barrels per day (mb/d) last month, as Saudi Arabia pushed its production to a new high and Iraq pumped more, according to the International Energy Agency. However, UBS forecasts a drop in Iraqi oil production following militant attacks at the Bai Hassan field in northern Iraq on July 31………………………………………..Full Article: Source


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