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10

OPEC Oil Output Declined

OPEC output in October slipped 110,000 bpd from September

OPEC output in October slipped 110,000 bpd from September to 30.05 million bpd, as Iraq's exports dipped to their lowest level for two years, a Reuters survey showed.

But output from the 10 OPEC members not including Iraq rose 170,000 bpd to 28.28 million bpd, according to the survey of consultants, shippers, industry and OPEC sources.

Higher exports from Nigeria, Iran, and the UAE helped bolster OPEC- 10 output.

Iraq's exports slumped 280,000 bpd to 1.24 millon bpd, according to shippers, the lowest since November 2003. The fall came as bad weather stopped exports from the main southern Basra terminal for four days, while sabotage attacks kept exports from the north of the country on hold.

Nigerian exports rose 60,000 bpd on the month, pushing up the country's production to 2.47 million bpd.