| Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) fell 110,000 barrels per day (b/d) to 30.34 million b/d in July from 30.45 million b/d in June, a Platts survey of OPEC and oil industry officials and analysts showed Thursday.
"When the consuming world wonders why oil prices remain relatively high, the Libyan production drop-off cited in our report is a reason," said John Kingston, Platts global director of oil, "as well as the declines seen from South Sudan, Egypt, Syria, and in particular, the decline in Nigeria, though it rose slightly this month." The key production increases are coming from: the United States, Canada, and swing producer Saudi Arabia. (Press Release)
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