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5

OPEC Crude Oil Production Rose 50,000bpd

Crude oil production in April by members of the Organization of Petroleum Exporting Countries

Crude oil production in April by OPEC countries rose 50,000 barrels a day, or 0.2%.

Output increased to an average 30m bpd, according to the survey of oil companies, producers, and analysts.

Production in March was revised to 29.5m bpd from 29.88m estimated last month.

The 10 members of OPEC with production quotas, all except Angola and Iraq, raised output by 30,000 barrels to 26.41m bpd.

The 10 countries, in an effort to bolster prices, pledged to trim a total of 1.7m bpd from production in two rounds of cuts, one that started on November 1 and another that took effect on February 1. Daily production from the 10 in October averaged 27.5m barrels.