OPEC+ Missed Its March Output Quota By 1.45 Million Bpd
The gap between target levels and actual production of the OPEC+ group further widened in March to over 1.4 million barrels per day
Source: oilprice.com
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OPEC Raises Oil Production By Just 57,000 Bpd In March
OPEC raised its oil production by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core OPEC members of the Middle East
Source: oilprice.com
Nigeria Says OPEC Is Out of Spare Capacity
OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today according to Nigeria's Petroleum Minister Sylva
Source: oilprice.com
Iraqi Oil Production Sinks Far Below Quota In March
OPEC’s second-largest producer, Iraq, produced just 4.15 million barrels per day (bpd) of crude oil in March, well below its quota under the OPEC+ agreement
Source: oilprice.com
OPEC+ Agrees To Ease Cuts By 432,000 Bpd In May
The OPEC+ meeting has concluded that no change in production plans is needed, agreeing to lift the group’s production by another 432,000 barrels per day starting in May
Source: oilprice.com