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…
