OPEC oil output slips lower, Saudi Arabia misses target

OPEC crude oil output slipped lower in March, dropping over 1 percent as the halt in Libyan exports takes effect and it seems that OPEC’s star exporter, Saudi Arabia has missed the target on filling the oil supply gap.
OPEC oil production slipped 363,000 barrels, or 1.2 percent, to an average 29.022 million barrels a day, the lowest level since September, according to the survey of oil companies, producers and analysts.
Daily crude oil output by OPEC member countries with quotas, all except Iraq, decreased 353,000 barrels to 26.437 million, 1.592 million above their target.
Higher Oil Exports from Saudi Arabia to “Take a While”

RELATED OIL STORIES

• OPEC star Saudi Arabia looks to raise oil export capacity
• Can Saudi Arabia boost oil output in times of tight supply?
• OPEC members oil output in Feb 2010 hits 14 month high
• Iran minister says OPEC oil output not to be increased yet
• OPEC signals oil output increase to help cap oil prices
• WTI oil price at $100 after Saudi Arabia’s “Day of No Rage”
• Brent oil price trading near $115, eyes on Saudi Arabia
• Oil prices on knife edge ahead of Saudi Arabia day of rage
• Iran: No oil output increase needed from OPEC members
• Saudi oil reserves maybe overstated by near 40 percent
• Peak demand for oil is alarming says Saudi Arabia
• WTI oil trading at $105, OPEC crude oil supplies drop off
• WTI crude oil opens trading over $106, will go higher
• Brent oil price ends week over $99, OPEC defends supply
• WTI oil futures end week over $91 on US supply concerns
• OPEC output should increase to halt higher oil prices – IEA
• Brent oil price closes firm over $90, OPEC in focus
• Is Saudi out of oil, Arabian King bans all new oil exploration
• More OPEC oil output needed if prices hit $100 plus
• OPEC would consider raising output if oil prices hit $95 mark