London, 30 April 2010

OPEC crude oil supply has risen in April, led by Nigeria and Saudi Arabia, a Reuters survey showed on Thursday, as compliance with agreed output targets extended a year-long slide. Supply from the 11 members of the Organization of the Petroleum Exporting Countries with output targets, all except Iraq, has averaged 26.88 million barrels per day (bpd), up from a revised 26.78 million bpd in March, according to the survey of oil firms, OPEC officials and analysts.

The survey implies OPEC is making 51% of supply cutbacks versus 54% in March. Oil prices have almost doubled since the start of 2009 to more than $85 a barrel, encouraging members to pump more crude.

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