Commodities
OPEC Output Dipped Last Month Following Fire at Iraqi Oil Field
- Group pumped just over 27 million barrels a day in January
- Iraq’s decline offset partially by Venezuela and Kuwait
Rumaila oil field near Basra, Iraq.
Photographer: Essam Al-Sudani/AFP/Getty ImagesOPEC’s oil production edged lower last month following a fire at Iraq’s biggest oil field, according to a Bloomberg survey.
The Organization of Petroleum Exporting Countries pumped an average of just over 27 million barrels a day in January, about 70,000 a day less than the month before, the survey showed. The decline in Iraq offset modest increases in Kuwait and Venezuela.