• 5 minutes Trump will capitulate on the trade war
  • 7 minutes China 2019 - Orwell was 35 years out
  • 12 minutes Glory to Hong Kong
  • 15 minutes ABC of Brexit, economy wise, where to find sites, links to articles ?
  • 11 hours Here's your favourite girl, Tom!
  • 2 hours Canada Election Deadlock?
  • 17 hours Peaceful demonstration in Hong Kong again thwarted by brutality of police
  • 2 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 3 hours Clampdown on Chinese capital flight is shutting down their commercial construction in US
  • 11 hours IMO 2020:
  • 2 hours Nigeria Demands $62B from Oil Majors
  • 1 day China's Blueprint For Global Power
  • 10 mins China & Coal: China's 2019 coal imports set to rise more than 10%: analysts
  • 1 day Civil Unrest Is Erupting All Over The World, But Just Wait Until America Joins The Party...
  • 1 day Australian Hydroelectric Plant Cost Overruns
  • 40 mins Devaluing the Yuan
  • 1 day Ford Planning Huge North American Charging Network
  • 10 mins Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)

Breaking News:

Is China Facing A Gas Shortage?

Alt Text

Iran Prepares For War With Israel

The successful attack on Saudi…

Alt Text

The Lithium Even Elon Couldn’t Buy

The U.S. may soon be…

Alt Text

The Only Hope For Oil Markets

While WTI was trending higher…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Platts: OPEC Oil Production Falls Most In 17 Years After Saudi Oil Attacks

OPEC saw its crude oil production plummet by the most in 17 years in September as the attacks on critical oil infrastructure in its largest producer Saudi Arabia took 5.7 million bpd offline for weeks, the monthly S&P Global Platts survey showed on Monday.

According to the survey, OPEC pumped 28.45 million barrels per day (bpd) of crude oil last month, down by 1.48 million bpd from August—the steepest drop in nearly 17 years. The September overall production was also the lowest monthly OPEC oil production level since May 2009, according to the S&P Global Platts survey.

Due to the September 14 attacks on critical Saudi oil facilities, which took 5.7 million bpd—or 5 percent of global supply—offline, Saudi Arabia’s crude oil production plunged by 1.32 million bpd in September from August, to stand at 8.45 million bpd.

Output in Venezuela further dipped, by another 100,000 bpd to just 600,000 bpd in September. Iran’s crude oil production also fell, by 70,000 bpd to 2.23 million bpd.

Nigeria and Iraq—the two rogue members that haven’t been complying with their share of the production cuts in recent months but pledged to correct that—saw their respective production down, but they were still above their quotas. Iraq was still nearly 300,000 bpd above its cap in the deal, while Nigeria produced 170,000 bpd over its ceiling last month, according to the Platts survey.

The monthly Reuters survey from last week showed that OPEC’s oil production fell to a near decade low for September, with Saudi Arabia accounting for most of the output drop. According to the Reuters survey, OPEC pumped 28.9 million bpd in September, down by 750,000 bpd from August.

OPEC is set to release official figures about the cartel’s production in September in its closely watched Monthly Oil Market Report on Thursday, October 10. 

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play