The average crude oil output from producers group Opec fell by just 124,000 barrels a day (b/d) in August, despite falling production in Libya, where output was down by almost 50 per cent.
Total crude oil production from the 12-member group averaged 30.23 million b/d in August, down 0.42 per cent from July, according to the latest statistics issued by Opec.
Libyan production averaged only 529,000 b/d over the month, compared to 1 million b/d in July and 1.4 million b/d at the end of 2012.
Production has been shut-in by protests and strikes at Libyas refineries and export facilities since the end of May. Analysts now say output has dropped to around 60,000 b/d from the countrys offshore oil fields. Onshore production is largely offline.
Saudi Arabias output rose to 9.96 million b/d, an increase of more than 188,000 b/d or nearly 2 per cent over July. Iraqs oil production also rose to 3.136 million b/d, up more than 4 per cent from 3 million b/d in July.
Opec estimates total global crude oil supply at 89.94 million b/d in August, a decrease of 430,000 b/d, with the group supplying around 33.6 per cent.