OPEC Oil Production Dipped by 600,000 Bpd in September Amid Libyan Blockade

OPEC’s crude oil production slumped by 604,000 barrels per day (bpd) in September compared to August, as Libya’s output was largely halted amid a political standoff and Iraq moved to improve compliance with the OPEC+ cuts. All 12 OPEC producers pumped on average 26.04 million bpd of crude last month, down by 604,000 bpd from August, due to a 410,000 bpd plunge in Libyan output, OPEC’s Monthly Oil Market Report (MOMR) showed on Monday. Libya, which is exempted from the OPEC+ agreement, saw its average production slump to 540,000…