OPEC oil production rose in July – OPEC monthly report

According to the latest OPEC monthly report, the cartel’s oil production rose to and average of nearly 32.90 mbpd during last month, with increases in Libya, Nigeria and Saudi Arabia as the main contributors. On the other hand, oil production decreased in Venezuela, Iraq and Angola.

The OPEC now sees the demand for crude oil advancing to 32.4 mbpd this year, a tad higher than 2016.