• Crude oil production from OPEC’s members was up close to 400,000 b/d in July versus the previous month to stand at 30.43mn b/d, according to MEES estimates. This represented the fourth month-on-month increase in output from the 12-nation producer group, and came as a partial recovery in Libya and seasonal increase in Saudi production more than compensated for losses in Iraq, Iran and Nigeria.
• Despite this gradual recovery, OPEC output over the first seven months of the year – estimated at 30.06mn b/d – is down around 650,000 b/d relative to the corresponding period last year. (CONTINUED - 601 WORDS)
