No 16



OPEC Oil Production Surges In March On Iraqi Output Gains

OPEC production rose by 940,000 b/d in March to 28.86mn b/d from 27.92mn b/d in February, according to MEESestimates. OPEC-10 (OPEC without Iraq) production increased by 320,000 b/d to 26.36mn b/d in March from 26.04mn b/d in February, exceeding the 1 November 2003 ceiling of 24.5mn b/d by 1.86mn b/d. However, the rise in the organizations overall output was mainly due to Iraq, which saw a large 620,000...