OPEC raised its August oil production by 618,000 bpd, according to the group’s Monthly Oil Market Report published on September 13. According to OPEC’s secondary sources, OPEC raised its production to 29.651 million bpd, with the largest increases coming from Libya and Saudi Arabia. Libya’s oil production has been severely depressed in recent months, but for now, production has climbed back above 1 million bpd, to 1.123 million bpd, compared to 697,000 in July. Libya’s average crude oil production for 2021 was 1.143 million…
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