| Oil production from the Organization of the Petroleum Exporting Countries (OPEC) climbed 70,000 barrels per day (b/d) to 30.2 million b/d in August from 30.13 million b/d in July as Libyan output surged despite the downward spiral of political chaos in the country, a Platts survey of OPEC and oil industry officials and analysts showed Tuesday.
The OPEC total in August represents the highest volume from the oil producer group since August 2013, when output averaged 30.28 million b/d. The increase from Libya, supplemented by a 50,000 b/d rise in Angolan output and smaller 20,000 b/d boosts from the United Arab Emirates (UAE) and Venezuela, more than offset decreases of 80,000 b/d and 50,000 b/d from Iraq and Saudi Arabia, respectively. Iranian output remained steady at 2.85 million b/d...............................................Full Article: Source
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