U.S. Erased 9 Months of OPEC Output Cuts in Just Two Weeks

(Bloomberg) -- The U.S. has wiped out nine months of OPEC output cuts in just two weeks. The 11 members of OPEC bound by the output deal cut their production in September by 1.041 million barrels a day from their combined reference production level. The U.S. in the last two weeks -- after recovering from the impact of Hurricane Harvey -- boosted its crude oil exports by 1.056 million barrels a day.

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To contact the reporter on this story: Julian Lee in London at jlee1627@bloomberg.net.

To contact the editors responsible for this story: Greg Chang at gchang1@bloomberg.net, Alec D.B. McCabe