OPEC Crude Output Rises as Libya’s Recovery Offsets Iraqi Curbs
- November production increased by 120,000 barrels a day
- Iraq reduced output for third month amid pressure from allies
Libyan production increased by 110,000 barrels to 1.14 million per day.
Photographer: Abdullah Doma/AFP/Getty Images
OPEC’s crude production increased for a second month as Libya continued to recover from a political feud that had shuttered its biggest oil field.
The Organization of Petroleum Exporting Countries pumped an average of 27.02 million barrels a day in November, up by 120,000 from the previous month, according to a Bloomberg survey. Libya, restoring output disrupted during a clash between rival governments, accounted for most of the addition.