| Due to lower output from Iraq and Libya, crude oil supplies from the Organization of Petroleum Exporting Countries in September fell by 645,000 b/d to 29.99 million b/d, below the 30 million b/d threshold for the first time in almost 2 years, according to the International Energy Agency's most recent Oil Market Report.
Non-OPEC supplies, after falling in August, inched up in September by 20,000 b/d to 54.61 million b/d, which is still significantly lower than July levels. As the steep fall in OPEC crude oil production only partially offset by the marginal increase in non-OPEC supplies, global oil supplies in September fell to 91.12 million b/d from 91.74 million b/d in August...............................................Full Article: Source
|