OPEC AND OIL PRICES

Libya to Reduce Output to OPEC Quota Level in September 

Libya has taken concrete steps to cut back crude oil production to its OPEC quota level of 990,000 b/d. MEES understands that the various producing companies have been notified of new output allowables which will reduce production to within the 990,000 b/d quota level as from 1 September in line with the August OPEC agreement.