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Glencore reports lower commodity output after production cuts

Reuters

BRUSSELS (Reuters) - Commodity miner and trader Glencore (GLEN.L) on Wednesday reported a fall in output of copper, zinc, lead, coal and oil following a decision to cut production because of low prices.

It said full-year production guidance was unchanged, except for oil, where reductions in exploratory drilling would mean 0.3 million barrels less output than previously expected.

Copper production was 4 percent lower for the first quarter versus a year ago, reflecting reductions in Africa, though partly offset by higher output from South America, the group said in a statement.

(Reporting by Barbara Lewis; editing by Robert-Jan Bartunek)