Saudi Arabia and the United Arab Emirates as part of the OPEC+ pact led to a 790,000-barrel-per-day rise in global oil production in August, the International Energy Agency (IEA) said in its closely-watched Oil Market Report on Wednesday. Production gains were partially offset by losses in OPEC member Nigeria—the biggest laggard in the OPEC+ deal – as well as lower output in the non-OPEC members of the OPEC+ alliance, Kazakhstan and Russia, the IEA said.
Growth in production is expected to slow toward the end of this…IEA: Global Oil Production Rose By 790,000 Bpd In August
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