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Output was said to have been boosted by increase from Nigeria, Angola and Libya, Nigeria's output rose to 2.18 mbpd while Angola's own increased to 1.85 mbpd according to the survey carried out the group which supplies 40% of the worlds oil.
A source from Platts however stated that the oil industry officials and analyst last week revealed that the group's output climbed by 90,000bpd in August to 31.54mbpd, while attributing the countries responsible for the increase to be Nigeria, Angola, Iraq and the United Arab Emirates (UAE) which covered for the decrease from Algeria and Iran.
Platts global director of news, John Kingston, stated that there were earlier speculations of tighter markets and OPEC's limited ability to sustain those prior levels of output after a decline in output in July, the group then surprised us by producing even more, even as outputs from Iran dropped.
Adding that the group's performance has been impressive so far, also said that OPEC topped its own prediction of producing about 30.5mbpd in the fourth quarter which is always the heaviest demand period of the year.
(Edited by: Blueblock)
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