OPEC/SUPPLY DEMAND

OPEC Production Hits Fresh Three-Year High

OPEC output in March hit a 39-month high, with strong gains in Iraq, Libya and Saudi Arabia eclipsing falling exports from Iran and OPEC’s West African members, MEES calculations show. Furthermore, provisional shipping data strongly points to a further production boost in April.

 

Perhaps the most significant change came from Iraq, where the commissioning of new export facilities in late February has allowed for...