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OPEC Oil Output Falls Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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OPEC oil production fell by 640,000 barrels per day in August due to disruptions caused by escalating tensions in the Middle East and US sanctions on Iran.

The total output of the 11 OPEC member countries dropped to 19.71 million barrels per day, down from July's figure.

OPEC+ members had planned to increase production in August, but this failed to materialize due to regional instability and export flow problems.

The alliance agreed to maintain their production target for September and October at 31.01 million barrels per day during their monthly meeting.

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