Oil Prices Slide Despite Falling OPEC Exports

Saudi Arabia stuck to its promise to further cut crude oil
exports in August to 6.6 million bpd, bringing OPEC’s total for the
month to 25.897 million barrels daily, energy data provider Kpler
reported. All but five of OPEC’s members cut their daily shipments
abroad. The notable exceptions were Algeria, Angola, Iran, Kuwait,
and Nigeria. For Iran and Nigeria, August marked the highest daily
export rate year-to-date. Despite the decline in OPEC crude oil
exports, oil prices continue to falter, with WTI losing 6 percent
over the month…

Saudi Arabia stuck to its promise to further cut crude oil
exports in August to 6.6 million bpd, bringing OPEC’s total for the
month to 25.897 million barrels daily, energy data provider Kpler
reported. All but five of OPEC’s members cut their daily shipments
abroad. The notable exceptions were Algeria, Angola, Iran, Kuwait,
and Nigeria. For Iran and Nigeria, August marked the highest daily
export rate year-to-date. Despite the decline in OPEC crude oil
exports, oil prices continue to falter, with WTI losing 6 percent
over the month…