OPEC Crude Production Rises Led by Countries Exempt From Cuts
- Libya, Nigeria saw combined gain of 310,000 barrels a day
- Results come after OPEC, non-OPEC extend deal to curb output
A worker walks between pipes at the oil and gas separation facility at the Baba Gurgur oil field in the Arafa district of Kirkuk, northern Iraq, on May 13, 2004.
Photographer: Staton R Winter/BloombergThis article is for subscribers only.
OPEC crude production rose in May led by gains from Libya and Nigeria, countries that are exempt from the deal to cut output in a bid to revive oil prices.
The Organization of Petroleum Exporting Countries’ output in May jumped 315,000 barrels a day from a month earlier to 32.21 million, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Libya’s output soared 210,000 barrels a day to 760,000 while Nigeria’s gained 100,000 to 1.7 million after fields in both countries resumed output as internal strife eased.