There appears to be little appetite amongst OPEC members and Russia for further production cuts, despite the gradual slide in oil prices. Russia is reported to have reduced output by slightly less than had been agreed upon by the OPEC plus producer group in August, while OPEC overall saw production up by 80,000 b/d to 29.61 million b/d, according to a Reuters poll published August 30. Both Iraq and Nigeria boosted output – the former by 60,000 b/d and the latter by 80,000 b/d. The new head of the Nigerian National Petroleum Company, Mele…
