Oil Prices Rise As OPEC Oil Production Declines In August

OPEC’s crude oil production declined in August thanks to Saudi Arabia cutting more from its production, a person familiar with the figures told Bloomberg, adding the information came from four of six secondary sources that track the production rates of the cartel’s members. OPEC produced 30.004 million barrels daily last month, the source said, versus 30.113 million bpd in July, with Saudi Arabia, the group’s leader and biggest producer, reducing output to 10.022 million bpd, from 10.049 million bpd in July. The Kingdom’s…

The post Oil Prices Rise As OPEC Oil Production Declines In August appeared first on aroundworld24.com.