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Opec output inches up in April

Nicosia, May 17 (AFP): Opec oil production without Iraq increased three per cent in April over March to 26.752 million barrels per day (BPD), the Middle East Economic Survey (MEES) reports.

“Output from Iran and Indonesia was slightly lower in April while all other member countries, with the exception of United Arab Emirates whose output was flat month on month, increased output,” the industry newsletter reports quoting its own estimates.

In Iraq production fell to 150,000 BPD, noted MEES.

“The data showed that lost Iraqi production was replaced by increased flows of 450,000 BPD from Venezuela, where production levels continue to increase after the strike, with Saudi Arabia, Kuwait and Libya also each lifting output by 100,000 BPD in the month.”

The newsletter also reports that Iraq’s oil exports will not begin before June 3.

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