Libya pushes group output to 11-year low

摘要

Opec production fell to an 11-year low last month because of disruptions to loadings in Libya and lower Saudi output. Opec production fell by 730,000 b/d to 27.74mn b/d in February, its low- est since March 2009. Plunging Libyan output and refnery turnarounds in Saudi Arabia more than ofset slight recoveries in Iraq, Kuwait, Angola and the UAE. Compliance with the group’s target cuts — which exclude Libya, Iran and Venezu- ela — rose slightly to 133pc.