Global oil supply edged up to 89.95mn b/d in July despite a sharp slump in exports from OPEC producers Libya and Iraq, with the loss of some 700,000 b/d tempered by a rise in Saudi Arabian output and non-OPEC supply, OPEC said in its August Monthly Oil Market Report (MOMR), as it warned of possible further output disruptions.
The MOMR said steeper losses amounting to 1mn b/d were likely if South Sudan shuts down production and Iraqi export curbs due to maintenance work extending beyond September. (CONTINUED - 952 WORDS)
