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FINANCIAL NEWS
Opec decides to lower production in October
20 Oct 2013
(MENAFN) The Organization of Petroleum Exporting Countries (Opec) decided to reduce oil shipments this month, Times of Oman reported.
Shipments from the Middle East will drop from 17.87 million barrels per day (bpd) to 17.12 million bpd, or by 4.2 percent.
Crude oil on board tankers in the region will decrease to 466.26 million barrels, or by 3.2 percent.
Opec members from the Middle East and North Africa include Algeria, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the UAE.
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