OPEC Pumps More Oil as Iraq Boost Offsets Iran Decline, IEA Says
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OPEC’s crude oil production rose to the most in more than three years in March as Iraq boosted output and offset a decline in Iranian supply, according to the International Energy Agency.
The 12 members of the Organization of Petroleum Exporting Countries pumped 31.43 million barrels a day of crude last month, up from a revised 31.29 million in February, the Paris-based IEA said in its monthly Oil Market Report. That exceeds the group’s 30 million output ceiling set in December.