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OPEC’s Oil Production Rises as Iraq Continues to Overproduce

OPEC’s Oil Production Rises as Iraq Continues to Overproduce

OPEC’s crude oil production rose by 145,000 barrels per day (bpd) in May compared to April, as Iraq continues to pump above its quota and boosted output alongside African producer Nigeria, the monthly Reuters survey showed on Tuesday. OPEC produced a total of 26.63 million bpd in May, an increase of 145,000 bpd compared to April, according to the Reuters survey, which tracks supply to the market and is based on information provided by industry sources and shipping data. Iraq, OPEC’s second-biggest producer behind Saudi Arabia,…

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