News release: “Crude oil production from the 12-member Organization of the Petroleum Exporting Countries (OPEC) averaged 29.03 million barrels per day (b/d) in September, down 80,000 b/d from an estimated 29.11 million b/d in August, a just-released Platts survey of OPEC and oil industry officials and analysts showed. Excluding Iraq, which does not participate in OPEC production agreements, the 11 members bound by quotas (OPEC-11) produced an average 26.63 million b/d, down 160,000 b/d from August’s 26.79 million b/d. The survey found that this drop is likely due in large part to maintenance-related issues in Angola. Small output decreases totalling 40,000 b/d came from Iran and the United Arab Emirates (UAE). Only Iraq and Nigeria boosted volumes, by 80,000 b/d and 20,000 b/d respectively. The latest estimates leave the OPEC-11 overproducing their 24.845 million b/d output target, in place since January 2009, by 1.785 million b/d. Platts calculates compliance with the 4.2 million b/d of output cuts agreed in late 2008 to be around 57.5%.”