(MENAFN - Qatar News Agency) OPEC production fell to an eight-month low in September, down 510,000 b/d to 31.17 mb/d, the report noted. "Higher supplies from Iraq and Libya failed to offset reduced output from Nigeria, Iran and Saudi Arabia," the International Energy Agency IEA said in its report issued here Friday.
Meanwhile, non-OPEC output growth is expected to reach 700,000 b/d in 2013, rising to 53.9 mb/d), after outages reduced supply levels to 53.2 mb/d in 2012, said the IEA report. While in Vienna , OPEC daily basket price stood at USD 111.35 a barrel Thursday, compared with USD 110.94 pb the previous day, OPEC's bulletin said on Friday.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).