OPEC Oil Output Falls in August on Middle East Conflict
OPEC crude production fell by 640,000 barrels per day in August to 19.71 million bpd. Saudi exports faced disruptions from the war in Iran while a U.S. blockade cut Iranian shipments.
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OPEC output fell by 640,000 bpd to 19.71 million bpd in August as conflict disrupted exports from Saudi Arabia and a United States blockade hit Iran. The decline reverses planned production increases agreed upon by the broader producer group.
