Opec production rose in March as higher output from Iran more than offset further cuts to supply by Saudi Arabia. Output increased by close to 190,000 b/d to 24.84mn b/d (see table). Production by the 10 members committed to output cuts under the Opec+ agreement was also higher as a reduction in supply by Saudi Arabia was outstripped by increases in Iraq and some west African countries. The group’s compliance with its cuts target was still 125pc, although this was down slightly on the month.
展开▼
