OPEC Oil Production Edged Lower Before Start of New Cutbacks
- Output slipped by 140,000 barrels a day to 28 million a day
- Iran, Iraq and Nigeria saw modest production declines
An oil pumping unit near Atyrau, Kazakhstan.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
OPEC’s oil production edged lower last month as a result of modest declines in Iran, Iraq and Nigeria.
Output from the Organization of Petroleum Exporting Countries declined by 140,000 barrels a day to just over 28 million barrels a day, according to a Bloomberg survey. Nigeria and Iraq saw the largest reductions, cutting about 50,000 barrels each.