OPEC Keeps Crude Production Steady Before Planned Increases
- Output declined by 50,000 barrels a day in April, survey shows
- Setback for Libya largely offset by further gains for Iran
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OPEC kept crude production steady in April, ahead of a planned revival of supplies scheduled to begin this month.
The Organization of Petroleum Exporting Countries pumped an average of 25.27 million barrels a day last month, about 50,000 a day less than in March, according to a Bloomberg survey. A setback for Libyan exports was largely offset by further increases from Iran.