Iraq and Nigeria pushed OPEC production higher in April
OPEC supply rose to 31.04 MMBOPD in April, the highest in more than two years, according to a Reuters survey. The increase puts the cartel’s production even further above demand forecasts for OPEC oil in the first half of the year, although second-half demand is expected to be stronger.

If the total remains unrevised, April’s supply would be OPEC’s highest since 31.06 MMBOPD in November 2012.

Iraq increased production in the north following a deal between Baghdad and the Kurdistan R...

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