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Nigeria Boosts OPEC Output In July

 

OPEC, excluding Iraq and Angola, pumped more crude oil in July, led by a rebound in supply from Nigeria after a spate of outages, a Reuters survey showed on Wednesday.
Ten OPEC members bound by output targets, all except Iraq and Angola, pumped 26.75 million barrels per day (bpd), up 150,000 bpd from June, according to the survey of oil firms, traders, OPEC officials and analysts.


The Organization of the Petroleum Exporting Countries, source of more than a third of the world's oil, agreed last year to lower production by 1.2 million bpd from November 1 and by a further 500,000 bpd from February 1 to prop up prices.

Total OPEC production rose to 30.47 million bpd from 30.15 million bpd in June because of higher shipments from Iraq and Angola, according to the survey.