Output increased to an average 30mn bpd, according to the survey of oil companies, producers and analysts. Production in March was revised to 29.5mn bpd from 29.88mn estimated last month.
The 10 members of Opec with production quotas, all except
“I think the whole situation has gotten to the point where Opec is looking at the glass as half full,” said Peter Beutel, president of Cameron Hanover Inc, a New Canaan,
The 10 countries, in an effort to bolster prices, pledged to trim a total of 1.7mn bpd from production in two rounds of cuts, one that started on November 1 and another that took effect on February 1. Daily production from the 10 in October averaged 27.5mn barrels.
Higher output in
PIN/BLOOMBERG
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