OPEC Oil Output Climbs 140,000 Barrels a Day In April: S&P Global Platts

Oil production from the Organization of the Petroleum Exporting Countries rose by 140,000 barrels a day in April from a month earlier, to 32.52 million barrels a day, according to a S&P Global Platts survey released Wednesday. Platts attributed the increase to higher output from Iran and Iraq, which lifted production by 150,000 barrels a day each. "Iran and Iraq's hefty production increases fly in the face of the failed Doha production freeze talks," Paul Hickin, associate editorial director of S&P Global Platts, said in a statement. "The question is how much higher can and will they go before production plateaus, because that would make a resurrection of a freeze plan at the June OPEC meeting more plausible."

Copyright © 2016 MarketWatch, Inc.