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Global oil supply up in February

Posted on 18 March 2014

According to the International Energy Agency (IEA), global oil supplies rose by 600 00 bpd in February, reaching 92.81 million bpd. This growth was led by a 500 000 bpd rise in OPEC crude output.
In February, OPEC Crude supplies surmounted the 30 million bpd mark for the first time in five months, led by a surge in Iraqi output, rising 500 000 bpd to reach 30.49 bpd. Total non-OPEC supplies rose 1.3 million bpd in 2013, and the IES anticipates that this figure will rise a further 1.7 million bpd in 2014………………………………………..Full Article: Source


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