OPEC crude output slipped in November as 14-member states cut production in OPEC’s April oil output slipped in April, while the oil exporting group projected increased demand in 2019, signalling a crunch in supply. The Organization of Petroleum Exporting Countries (OPEC) said in its monthly oil report the group’s April output declined by 3,000 barrels per day (bpd) month-on-month to 30.031 million bpd. Although a small decline, Iran saw the largest drop of 164,000 bpd as it faces U.S. sanctions. Saudi Arabia also reduced output by 45,000 bpd. Meanwhile, world oil demand for the year is projected to increase by 1.21 ... (full story)