City Of London
OPEC Output Falls on Iraq Pipeline Halt, Nigeria Strike
- Iraq slumps 250,000 barrels a day amid spat with Kurds
- Nigeria rebound fizzles as Exxon reneges on shipments
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OPEC’s oil production fell last month as Iraq’s exports were reduced by a pipeline suspension while a labor strike cut shipments from Nigeria.
Output from the Organization of Petroleum Exporting Countries declined by 310,000 barrels a day to an average of 28.8 million, the lowest level in almost a year, according to a Bloomberg survey.