Total OPEC production down 8.1 MBOPD
OPEC has released this month’s Monthly Oil Market Report, outlining the cartel’s assessment of the state of the international oil industry.

Total OPEC production fell slightly in January, dropping by 8.1 MBOPD to 32,302 MBOPD. This slightly offsets the increase in production reported by the group last month.

The largest increases in production were seen in Iraq, Saudi Arabia and Libya, which added a combined 74.5 MBOPD. The increase in Iraqi output, while frustrating for nations complying with cuts, a...

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