OPEC oil output falls in August, Reuters survey shows
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FILE PHOTO: A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. REUTERS/Maxim Shemetov/ File Photo
Sept 10 - OPEC oil output fell in August, a Reuters survey found, as Saudi exports faced new disruption due to the war in Iran and a U.S. blockade cut Iran's shipments.
Crude output by the 11-member Organization of the Petroleum Exporting Countries fell by 640,000 barrels per day month-on-month to 19.71 million bpd, the survey found.
Seven members of the OPEC+ producer group, which includes allies such as Russia, had agreed to increase production in August, but the Middle East conflict made that impossible.
The Reuters survey is based on flow data from financial group LSEG, information from other companies that track flows, such as Kpler, and information provided by sources at oil companies, OPEC and consultants.
(Reporting by Alex Lawler, editing by Tomasz Janowski)
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