London A resurgent Iran pumped its largest volume of crude in almost two years in April, while an increasingly compliance-challenged Russia also boosted its output yet again, bringing total production by OPEC and its allies to a three-month high, according to the latest S&P Global Platts survey.
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OPEC produced 25.28 million b/d, up 80,000 b/d from March; Russia and eight other non-OPEC partners in the group s supply accord added 13.21 million b/d, an increase of 130,000 b/d, the survey found.
The rising output is a preview of the wave of OPEC+ crude set to hit the market over the next few months.
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Libya crude output to rebound as force majeure lifted on Marsa el-Hariga exports
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Lifting force majeure comes almost a week after an oil sector budget row, which had pushed production down under 1 million b/d.
In a statement, NOC confirmed on April 26 that crude loadings out of the 250,000 b/d Marsa el-Hariga terminal were set to resume.
This follows the oil and gas ministry settling a funding dispute and agreeing to pay Dinars 1.048 billion ($232.4 million) to NOC. The ministry said on April 21 it had already transferred Dinars 500 million to the state-run producer.
On April 19, NOC declared force majeure on crude exports out of the key Marsa el-Hariga terminal, after its subsidiary Agoco resorted to shutting down output due to lack of funds. Agoco operates the Sarir, el-Bayda, Hamada, Mesla, Nafoora and Majid oil fields, which have a total capacity of 280,000 b/d.
Bunkerworld News - Libya crude output to rebound as force majeure lifted on Marsa el-Hariga exports
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