| A split in response to falling oil prices emerged among members of the Organization of the Petroleum Exporting Countries after Saudi Arabia cut its oil production sharply last month while other leading members raised their output.
Saudi Arabia, the cartel's kingpin, said Wednesday it had cut its crude production by about 400,000 barrels a day in August. An industry official said the drop was tied to lower exports to the kingdom's core Asian markets. But Iran and Nigeria have told OPEC they increased their crude output by 10,000 barrels a day and 152,000 barrels a day last month, respectively...............................................Full Article: Source
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