31.07.2012 - OPEC oil output drops as sanctions hit Iran

OPEC oil output fell further from its highest in four years in July as U.S. and European sanctions cut supply from Iran to the lowest in more than two decades, a Reuters survey showed on Monday. Supply from the 12-member Organization of the Petroleum Exporting Countries has averaged 31.18 million barrels per day in July, down from 31.63 million bpd in June, the survey of sources at oil companies, OPEC officials and analysts found...............................................Full Article: Source

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