OPEC’s oil output rose last month, fueled by increased supplies from Libya, Nigeria, Iraq and Gabon, despite a sharp decline in Venezuela.
The Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report on production in September, released on Wednesday, that production rose by 88.5 thousand barrels per day last month, to 32.75 million barrels.
Libya caused the largest increase in production levels over the past month by 53.9 thousand barrels per day, followed by Nigeria through 50.8 thousand barrels per day, and Iraq by 31 thousand barrels per day.
In Gabon, oil production increased in September by 14.4 thousand barrels per day.
Some countries cut their oil production last month, led by Venezuela, where production fell by 51.9 thousand barrels per day, followed by Algeria by 8.5 thousand barrels per day, and the United Arab Emirates by 8.4 thousand barrels per day.
Brent crude futures rose 0.4% to $ 56.86 a barrel.
The price of NYMEX crude futures was up $ 0.8.32 a barrel by 0.8%.
