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Opec output jumps on higher Iraq exports

Posted on 04 March 2013

Opec crude oil output grew in February - the first monthly increase since October - owing to higher exports from Iraq and a slight increase in supply from top exporter Saudi Arabia, Trade Arabia citing a survey. Supply from the 12-member Organisation of the Petroleum Exporting Countries was 30.32 million barrels per day (bpd), up from 30.21m bpd in January, the survey of shipping data and sources at oil firms, Opec and consultants found.
The survey indicates Opec output has risen for the first month since October 2012, before cutbacks by Saudi Arabia which coincided with a rise in oil prices towards $120 a barrel. Even so, analysts said, supply remains low compared to recent months………………………………………..Full Article: Source


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