OPEC Production Increases 50k b/d in September
OPEC crude production has risen in September.
OPEC crude production has risen in September.
The Iranian Minister of Petroleum, Bigan Zangeneh, singled out Libya and Nigeria in comments to the press yesterday, calling for changes in OPEC policy towards the two countries.
After meeting last Friday in Vienna, ministers from OPEC and major, non-OPEC oil-producing countries, said their production-cut agreement had drawn down global oil stocks.
Iraq favors an additional one-percent cut in oil production by OPEC and its fellow oil producers.
OPEC production fell in August as Saudi Arabia cut back its production
The oil ministers of Saudi Arabia and the UAE indicated that their countries were willing to consider an extension of the production-cut agreement between OPEC and major, non-OPEC oil producers.