EIA: April OPEC Oil Output 29.78 Million B/D Vs 29.69 Million B/D Mar

NASDAQ – The Organization of Petroleum Exporting Countries produced 29.78 million barrels of crude oil a day in April compared with 29.69 million b/d in March, the U.S. Energy Information Administration said Tuesday.

Excluding Iraq, OPEC members’ output averaged 27.88 million b/d in April compared with 27.79 million b/d in March.

“OPEC members’ crude oil production in 2006 will likely be similar to 2005 production,” the EIA said in its monthly energy outlook. “Because only limited surplus capacity exists, concern about potential or existing supply problems in Nigeria, Iran, Iraq, Venezuela, and elsewhere, as well as the threat of more hurricane damage, will keep upward pressure on oil prices.”
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