OPEC oil production tumbles – Bloomberg ...News

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OPEC oil production tumbles – Bloomberg
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Output was reportedly down 900,000 barrels a day in July OPEC’s oil production plunged by the most in three years in July due to Saudi Arabia’s deeper cut to support crude prices, Bloomberg reported on Tuesday. The outlet’s survey showed that OPEC’s output was down 900,000 barrels per day (bpd) last month, to an average of 27.79 million bpd. It is the sharpest drop since 2020, when the group started slashing production in the wake of Covid lockdowns and declining demand. The survey showed that Riyadh delivered on the vast majority of the promised cut, slashing production in July to 9.15 million bpd in the face of

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