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OPEC Output At Highest Level Since 2008, According To Reuters Survey

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April 30, 2012

According to a Reuters survey, OPEC output in April has hit its highest level since 2008 as extra crude from Iraq, Saudi Arabia and Libya more than compensates for the lowest Iranian supply in two decades ahead of an EU embargo.

Supply from the 12 OPEC members averaged 31.75 million barrels per day (bpd), up from a revised 31.32 million bpd in March, according to the survey of oil companies, OPEC officials and analysts.

Despite reduced supplies from Iran, OPEC's total is the highest since September 2008, shortly before it ...

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