Oil output falls to eight-year low

Posted On: Oct. 2, 2019 6:12 AM CST

Saudi defense ministry spokesman Colonel Turki Al-Malik displays on a screen drones that the Saudi government says attacked an Aramco oil facility, during a news conference in Riyadh, Saudi Arabia, on Sept. 18, 2019./ REUTERS

A survey by Thomson Reuters Corp. found that the Organization of Petroleum Exporting Countries' oil output fell 750,000 barrels per day month-on-month to an eight-year low of 28.9 million bpd in September, Hellenic Shipping News Worldwide reported. The decline was the result of drone attacks on Saudi Arabian Oil Co.'s oil facilities on Sep. 14, which affected oil production of 5.7 million bpd or 5% of daily global oil supply.