Opec members produced 31.76mn b/d last month, down by 20,000 b/d from August, according to MEES estimates. September marks the 16th consecutive month that the group has produced above its 30mn b/d production ceiling, in place since December 2011.

Production from the group’s top producer Saudi Arabia stayed high at 10.24mn b/d in September, though this was down from 10.31mn b/d in August, as domestic demand continues to weaken from its summer peak. Saudi output has fallen month-on-month since June, when it hit a record high of 10.56mn b/d. (CONTINUED - 292 WORDS)