Reuters survey: OPEC’s oil production climbs in March

Market news

1 April 2016

Reuters survey: OPEC’s oil production climbs in March

According to a Reuters survey, the Organization of the Petroleum Exporting Countries' (OPEC) oil production rose in March due to an increase in supply from Iran and Iraq. OPEC's oil output increased to 32.47 million barrels per day (bpd) in March from 32.37 million in February.

Saudi Arabia produced 10.18 million bpd in March, down from 10.20 million bpd in February.

Iran increased its oil production by 230,000 bpd since December 2015.

Oil production declined in Nigeria, Libya and United Arab Emirates, while exports from Angola rose.

Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. increases to 51.0 in March

Bloomberg Consumer Comfort Index: consumers’ expectations for U.S. economy fall to 42.8 in in the week ended March 26

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