OPEC's August Oil Supply Up 278,000 Barrels Per Day To Average 32.56Mln - Report

The Organization of the Petroleum Exporting Countries (OPEC) boosted oil output by 278,000 barrels per day in August, according to the organization's report published Wednesday

MOSCOW (UrduPoint News / Sputnik - 12th September, 2018) The Organization of the Petroleum Exporting Countries (OPEC) boosted oil output by 278,000 barrels per day in August, according to the organization's report published Wednesday.

"According to secondary sources, total OPEC-15 crude oil production averaged 32.

56 mb/d [million barrels per day] in August, an increase of 278 tb/d [thousand barrels per day] over the previous month. Crude oil output increased mostly in Libya, Iraq and Nigeria, while production declined in I.R. Iran, Venezuela and Algeria," the OPEC monthly oil market report reads.