OPEC oil output jumps 336,000 barrels a day in May on increases in Libya, Nigeria, and Iraq

OPEC oil output jumps 336,000 barrels a day in May on increases in Libya, Nigeria, and Iraq

Oil production across OPEC rose by about 336,100 barrels per day to 32.1 million bpd in May. The gains were led by big increases from Libya, Nigeria, and Iraq. The increase came the same month OPEC and other exporters extended a deal to cut output into 2018. OPEC’s oil production jumped in May, despite the…

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