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Global markets: Iran’s oil production up from July

By Commodity News Service Canada

WINNIPEG, September 9 – The following is a glance at the news moving markets globally.

IRANIAN OIL PRODUCTION UP BUT STEADY IN AUGUST
Iran reportedly produced 3.63 million barrels of oil per day in August, according to media reports out of the country.

That number is a 10,000 barrel per day increase from July, analysts say, but close to on-par with June’s production.

Official numbers will be released in a monthly report from OPEC on Monday.

CANADIAN CRUDE OIL PRODUCTION DROPS FROM YEAR-AGO LEVELS IN JUNE

Canada produced 15.7 million cubic metres (98.8 million barrels) of crude oil and equivalent products in June, down 9.3 per cent compared with the same month in 2015, Statistics Canada said in a report on Friday.

CANADIAN EMPLOYMENT EDGES UP
Following a decline in July, employment edged up 0.1 per cent in August. The unemployment rate rose 0.1 percentage points to seven per cent, as more people participated in the labour market, Statistics Canada said in a report on Friday.

According to StatsCan, compared with 12 months earlier, employment increased by 0.4 per cent, with all of the gains in part-time work. Over the same period, the total number of hours worked fell slightly, dropping 0.4 per cent.

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