Oil Prices Slide Despite Falling OPEC Exports

OilPrice.com ----- 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 of August. To learn more click on the picture below to read the article.