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Platts has released their new survey on the Organization of the Petroleum Exporting Countries (OPEC) crude production levels through September 2013. The following are the highlights from their report:

  1. Crude oil production from OPEC fell below 30 million barrels per day (b/d) for the first time in more than two years in September.
  2. Production in Iraq plummeted by 350,000 b/d, to 2.8 million b/d in September. This is down from 3.15 million b/d in August.
  3. In Libya, continuing protests and strikes at key oil facilities reduced output by a further 180,000 b/d to an average 380,000 b/d.
  4. The Platts survey showed output from OPEC kingpin Saudi Arabia remained unchanged at 10 million b/d.
  5. The Next OPEC meeting is scheduled on December 4 in Vienna.

Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals, agriculture information, as well as being a premier source of benchmark prices for the physical and futures markets.