Platts Survey: OPEC+ Oil Production Drops by 500,000 Bpd

A halt in Libya’s oil production and improved compliance from OPEC’s second-largest producer Iraq pushed the total output of the OPEC+ group down by around 500,000 barrels per day (bpd) in September, according to the Platts OPEC+ survey from S&P Global Commodity Insights. The OPEC+ alliance collectively pumped 40.23 million bpd last month, down by 500,000 bpd from August, according to the survey, which also showed that the oil production from the OPEC+ producers with quotas under the agreement still exceeded the collective target,…