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Crude Oil Price Up Slightly As OPEC Output Falls in February

From investingcube.com

Crude oil prices have shown marginal gains this Monday after Reuters reported a drop in the total oil output from the Organization of the Petroleum Exporting Countries (OPEC) in February. Total oil output from OPEC member countries was reported to have declined by 870,000 barrels per day (bpd), making this the first time that output has declined in eight months. Reuters said the OPEC oil output drop was primarily led by Nigeria, which saw the biggest drop as it battles raging insurgency issues. Saudi Arabia was also among the top contributors to the output drop, as it followed through with its announced voluntary ... (full story)

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