OPEC OIL PRODUCTION UP 230 TBD
PLATTS - OPEC oil output averaged 29.71 million b/d in August, up 230,000 from July as production increases in Saudi Arabia, the UAE, Nigeria and Iraq offset declines in Venezuela and Libya, the US Energy Information Administration said Tuesday.
In its monthly Short-Term Energy Outlook, EIA said it expects OPEC oil output to average 30.03 million b/d in 2019 and 29.6 million b/d in 2020, down 100,000 b/d and 190,000 b/d, respectively, from last month's forecast.
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