OPEC Oil Output Fell, Led by Nigeria, Survey Shows
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The Organization of Petroleum Exporting Countries’ crude-oil output fell in November, led by Nigeria, where attacks by armed groups are reducing production, a Bloomberg News survey showed.
Production slipped 80,000 barrels, or 0.3 percent, to an average 29.05 million barrels a day, according to the survey of oil companies, producers and analysts. October output was revised higher by 120,000 barrels. Production by members with quotas, all except Iraq, dropped 80,000 barrels to 26.7 million, 1.855 million above their target.