Petroleum Africa
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Friday, June 1, 2018
According to a survey conducted by Reuters, OPEC oil output fell to a 13-month low in May due to declining Venezuelan production, Nigerian outages and strong compliance with the cartel’s supply-cutting deal among members and non-members.
Reuters’ survey found that 32.00 million bpd were produced in May, down 70,000 bpd from April’s revised figure. The May total is the lowest since April 2017, according to the survey.
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