OPEC oil output falls in January let by Iraq - Reuters survey

Kitco Media
By Reuters
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Reuters
By Alex Lawler LONDON, Jan 31 (Reuters) - OPEC oil output fell in January, a Reuters survey found on Tuesday, as Iraqi exports declined and Nigerian output didn't recover further, while Gulf members maintained strong compliance with an OPEC+ production cut deal to support the market. The Organization of the Petroleum Exporting Countries pumped 28.87 million barrels per day (bpd) this month, the survey found, down 50,000 bpd from December. In September, OPEC output had been its highest since 2020. The Reuters survey aims to track supply to the market. It is based on shipping data provided by external sources, Refinitiv Eikon flows data, information from companies tracking flows such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants. (Additional reporting by Ahmad Ghaddar, Editing by Louise Heavens)

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