| Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) rose to 30.87 million barrels per day (b/d) in January from 30.83 million b/d in December. This leaves the organization overproducing its brand new production ceiling by 870,000 b/d, according to a just-released Platts survey of OPEC and oil industry officials and analysts.
A 200,000-b/d increase in Libyan production to 1 million b/d – just 600,000 b/d short of pre-uprising output early last year – more than offset combined reductions totalling 170,000 b/d from Angola, Iran, Nigeria andVenezuela. United Arab Emirates production also saw a small increase of 10,000 b/d to 2.56 million b/d. (Press Release)
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