OPEC Oil Output Fell 0.8% in July, Survey Shows

(Bloomberg) — Crude-oil production by members of the Organization of Petroleum Exporting Countries declined 0.8 percent in July, a Bloomberg News survey showed.

OPEC oil output fell an average 250,000 barrels a day to 29.61 million barrels a day, according to the survey of oil companies, producers and analysts. June production was revised 60,000 barrels a day lower. OPEC’s 11 members pumped 30.54 million barrels a day in October 2004, the highest since 1979.

“Saudi Arabia, Iran, Kuwait and Nigeria all posted minor declines in output,” said Tim Evans, an energy analyst at Citigroup Global Markets Inc. in New York. “It’s unusual to see so many members’ output move in the same direction.”
Bloomberg