ICYMI – OPEC’s crude production fell by the most in three years (via a Bloomberg survey)

<p>A Bloomberg article overnight on tighter oil supply. </p><ul><li>Output from the Organization of Petroleum Exporting Countries plunged by 900,000 bpd last month to an average of 27.79 MMbpd, according to a Bloomberg survey. </li><li>the biggest reduction since the group and its allies slashed supplies during the depths of the Covid pandemic in 2020</li></ul><p>There was also a report via Reuters:</p><ul><li><a href="https://www.forexlive.com/news/opec-production-fell-840k-bpd-in-july-survey-20230731/" target="_blank" rel="follow">OPEC production fell 840K bpd in July – survey</a></li></ul><p>—</p><p>Earlier today:</p><ul><li><a href="https://www.forexlive.com/news/private-oil-survey-data-shows-huge-headline-crude-draw-much-larger-than-expected-20230801/" target="_blank" rel="follow" data-article-link="true">Private oil survey data shows huge headline crude draw, MUCH larger than expected</a></li></ul><p>Oil price update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.