OPEC’s crude oil production fell in January by around 60,000 barrels per day (bpd) due to cuts by top producer Saudi Arabia which may have been steeper than the Kingdom’s quota, a survey carried out by Bloomberg showed on Thursday. The entire OPEC-13 organization saw crude oil production drop to 29.12 million bpd due to lower output from Saudi Arabia and Libya, partly offset by slight gains among some other members.
Saudi Arabia’s crude oil production is estimated to have dropped by 100,000 bpd to 10.38 million bpd, per Bloomberg’s…OPEC’s Oil Production Drops In January As Saudi Arabia Cuts Output
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