OPEC monthly report highlights:
– Feb output fell 175k bpd on Iraq, Nigeria and UAE outages
– Total output was 32.28m bpd in Feb
– Forecast that non-OPEC supply will decline by 700k bpd is becoming more uncertain, citing producer efforts to maintain production
Moments ago, OPEC’s oil minister said there will be a meeting in April.
OPEC monthly report: Oil market surplus will increase to 760K bpd from 720k bpd in last month’s estimate
ByAdam Button
Mar 14, 2016