OPEC OIL UP 120,000
Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.4 million barrels per day (b/d) in July, up 120,000 b/d from the June level of 31.28 million b/d.
Kingpin producer Saudi Arabia accounted for almost all of the increase, pumping an additional 100,000 b/d to take its July output to 10.45 million b/d, the survey showed. Smaller increases of 50,000 b/d, 30,000 b/d and 20,000 b/d came from Angola, the United Arab Emirates (UAE) and Iran, while Algeria, Libya and Nigeria shaved output by a collective 80,000 b/d.
The July total is the highest volume pumped by OPEC since August…
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