OPEC output rose in Feb for first time in 4 months – RTRS survey
OPEC crude oil output rose 110K barrels per day to 30.32 million bpd, according to a Reuters survey. It’s the first gain since October and comes on higher supply from Iraq and Saudi Arabia.
WTI crude oil prices are down $1.30 today after declining 5.6% in February. Additional supply could weigh further on the market.