OPEC Crude Output Falls in September led by Gulf Producers
- Saudi Arabia cuts oil production by most in 12-member group
- Iran, Iraq had second- and third-biggest declines this month
Oil Market Fundamentals Give Way to Resistance Points
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OPEC crude output fell this month, led by declines in the group’s three-biggest producers.
Output from the Organization of Petroleum Exporting Countries fell by 233,000 barrels to 32.048 million a day this month, according to a Bloomberg survey of oil companies, producers and analysts. Last month’s total was revised 35,000 barrels lower to 32.281 million a day because of changes to the Iraqi, Nigerian and Ecuadorean estimates.