OPEC oil production now at 25-year high

Opec oil production is now at its highest since December 1979, reported Petrologistics. Output is now 29.9m bpd, ahead of a previous peak of 29.8m bpd in November 2000. Opec last week cancelled its July meeting but officials said a planned 500,000 bpd increase in quotas from August 1 will go ahead, though little spare capacity remains.

ameinfo.com