Related Articles
Forward article link
Share PDF with colleagues

Opec crude output at two-year low as global production falls

Steep falls in output from Libya and Iraq led to Opec output falling below 30m b/d

Global oil production fell by 625,000 barrels a day (b/d) in September, to 91.1 million b/d, driven by Opec output losses. Opec crude production fell below 30m b/d for the first time in almost two years because of steep falls in output from Libya and Iraq, the International Energy Agency (IEA) said. Opec supply fell by 645,000 b/d, to 29.99m b/d, the lowest level since October 2011. This is despite Saudi Arabian production topping 10 million b/d for the third consecutive month.  Iraq’s output fell by 400,000 b/d, to an 18-month low of 2.82m b/d, because of planned upgrading work at its southern ports. Libya’s production averaged just 300,000 b/d because of ongoing labour disputes, tribal v

Also in this section
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range
Opec and IEA bristle at Trump's trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring