Commodities
OPEC Oil Output Falls Amid Saudi Export Disruptions
OPEC oil output fell in August as Saudi exports faced disruption due to the war in Iran and a U.S. blockade cutting Iran's shipments, according to a Reuters survey.
The 11-member Organization of the Petroleum Exporting Countries saw crude output decline by 640,000 barrels per day month-on-month to 19.71 million bpd, the survey found.
Seven members of the OPEC+ producer group had agreed to increase production in August, but the Middle East conflict made that impossible.