OPEC Oil Output Rises

OPEC Oil Output Rises

OPEC crude production rose in March, as Iranian output climbed to the highest level in almost four years.
The Organization of Petroleum Exporting Countries increased production by 64,000 barrels to 33.09 million a day last month, according to a Bloomberg survey of oil companies, producers and analysts. The group set aside its output target of 30 million barrels a day at its Dec. 4 meeting in Vienna. Saudi Arabia, Russia, Venezuela and Qatar tentatively agreed on Feb. 16 to cap production at January levels. They are set to meet with other countries, both in and out of OPEC, in Doha on April 17.
Iranian output rose by 100,000 barrels a day to 3.2 million, the most since May 2012. Sanctions against the nation, which were strengthened in July 2012, were lifted in January.
The Islamic Republic is seeking to regain market share, after sanctions were removed upon the completion of an agreement limiting its nuclear program.
Iraqi production rose by 150,000 barrels a day to 4.35 million in March, according to the survey. OPEC’s second-biggest producer pumped 4.51 million barrels a day in January, the highest level in monthly data compiled by Bloomberg going back to 1989.
Saudi Arabia, OPEC’s top producer, trimmed output by 10,000 barrels a day to 10.19 million.

Short URL : http://goo.gl/o3Xxgv
  1. http://goo.gl/qAcJGX
  • http://goo.gl/1suqdZ
  • http://goo.gl/nTCQr8
  • http://goo.gl/K75Yts
  • http://goo.gl/XweCmr

You can also read ...

IOOC to Raise Crude Output
The Iranian Offshore Oil Company, a subsidiary of the National...
Oil Majors to Gain Clarity on Anti-Russia Sanctions
The Italian oil major Eni will discuss sanctions against...
Russia, Ukraine to Discuss Latest Gas Dispute
Ukraine’s state-held gas company Naftogaz and Russia’s gas...
Pasargad Energy Development Company will be commissioned to drill 126 wells in Jofeir and Sepehr fields.
In line with policies to help expand domestic companies' scope...
The California state court is seen as more favorable to the cities and counties.
California cities and counties seeking to hold five of the...
Brent, WTI Crude Futures Hit Highest in Two Weeks
Oil prices jumped on Friday, with Brent crude futures hitting...
Iraq Seeks Investors to Build Refinery
Iraq is inviting companies to bid for building a 70,000-bpd...
No Plan to Increase Oil Production in Next 12 Months
Iran does not intend to increase crude output in the next...