Oil Prices Fall As OPEC Output Hits ‘’Year-To-Date High’’

Libya and Nigeria pushed OPEC’s crude oil output in July to
the highest this year, at 32.82 million barrels daily, a survey by
S&P Platts has revealed. The cartel is reporting its production
figures this Thursday. According to Platts, the combined production
of Libya and Nigeria, both exempt from the cuts agreed to last
November, went up by 210,000 bpd last month, with Libya pumping
about 990,000 bpd and Nigeria producing 1.81 million bpd. Saudi
Arabia, according to Platts, pumped 10.05 million bpd in July.
Nigeria has agreed to stop…

Libya and Nigeria pushed OPEC’s crude oil output in July to
the highest this year, at 32.82 million barrels daily, a survey by
S&P Platts has revealed. The cartel is reporting its production
figures this Thursday. According to Platts, the combined production
of Libya and Nigeria, both exempt from the cuts agreed to last
November, went up by 210,000 bpd last month, with Libya pumping
about 990,000 bpd and Nigeria producing 1.81 million bpd. Saudi
Arabia, according to Platts, pumped 10.05 million bpd in July.
Nigeria has agreed to stop…