OPEC output rise in March falls short of pledged increase – survey
OPEC pumped 28.54 million barrels per day (bpd) in March, a Reuters survey found, up 90,000 bpd from February but short of the 253,000 bpd increase called for under its deal with allies including Russia. OPEC+ met on March 31 and confirmed previously agreed plans of a 400,000 bpd increase in March from all OPEC+ members, of which about 253,000 bpd is shared by the 10 OPEC producers the agreement covers. Outages in Libya and Nigeria also limited the increase in OPEC’s output.