OPEC’s Production Increases As Iran Ramps Up Output ...Middle East

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OPEC’s Production Increases As Iran Ramps Up Output
OPEC’s crude oil production is estimated to have increased to a three-month high of 24.96 million barrels per day (bpd) in April, thanks to a major jump in Iran’s output, the latest survey by Argus showed. Other surveys of analysts and ship-tracking data also suggest that OPEC either boosted or maintained its crude oil production flat last month, ahead of the planned increase of 600,000 bpd from the OPEC+ coalition in May. OPEC will announce official data on the cartel’s production in its Monthly Oil Market Report (MOMR) on Tuesday,…

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