OPEC AND OIL PRICES
IEA Sees OPEC 3Q Crude Output Averaging 19.2mn b/d
OPEC crude production rose from 18.2mn b/d in July to 19.7mn b/d in August, according to the September issue of the IEA's monthly Oil Market Report (OMR). The IEA figures attribute the 1.5mn b/d increase in August mainly to higher output in four countries Saudi Arabia (up 0.2mn b/d at 4.5mn b/d), Iran (up 0.4mn b/d at 2.8mn b/d), the UAE (up 0.3mn b/d at 1.7mn b/d), and Kuwait (up 0.3mn b/d at 1.4mn b/d). The IEA is...
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