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OPEC increases production in July

: Thursday, July 31 - 2014 @ 08:37

Oil production by the Organisation of the Petroleum Exporting Countries (Opec) rose in July from June, as a fragile recovery in Libyan supply outweighed fighting in Iraq and reduced output from Angola, Reuters has reported. Supply from Opec has averaged 30.06m bpd in July, up from 29.92m bpd in June, according to a survey based on shipping data and information from sources at oil companies, Opec and consultants. The 12-member Opec pumps a third of the world’s oil. In July, the largest increase came from Libya, where supply rose by 210,000 bpd to 430,000 bpd, the survey found.

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Thursday, July 31- 2014 @ 8:37 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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