OPEC Oil Production Stays Steady, Leaving New Cuts Unfinished
- Libya and Iraq increase while Iran and Nigeria decline
- Baghdad has pledged to compensate for exceeding quota
This article is for subscribers only.
OPEC’s crude production stayed steady last month, leaving the group’s latest cutbacks incomplete.
The Organization of Petroleum Exporting Countries pumped 26.81 million barrels a day in April, about 50,000 a day less than the previous month, according to a Bloomberg survey. Minor increases by Libya and Iraq were offset by reductions in Iran and Nigeria.