OPEC Oil Output highest since 2008

The output of OPEC in April hit its highest point since 2008 as extra crude from countries such as Libya, Saudi Arabia, and Iraq more than compensated from the loss of Iranian crude supply.

Analysts found that the 12 member countries making up OPEC averaged 31.75 million barrels per day (mbpd). In April it was found that the biggest increase in crude export was from Iraq, this was due to a second export facility coming online, which in turn provided a boost to the countries export capacity.

(Source: Oil and Gas News)

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