| Opec oil output strong { April 2005 } Original Source Link: (May no longer be active) http://washtimes.com/upi-breaking/20050609-105224-5953r.htmhttp://washtimes.com/upi-breaking/20050609-105224-5953r.htm
Report: OPEC output last month strong
London, England, Jun. 9 (UPI) -- A British research group says the world's crude oil cartel produced more than 30 million barrels per day last month, a level last seen in October 2004.
Platts said output by the 11 members of the Organization of Petroleum Exporting Countries averaged 30.02 million bpd in May, up a net 60,000 bpd from April's 29.96 million bpd.
Excluding Iraq, which does not participate in OPEC's production management system, the 10 members with crude output quotas pumped 28.2 million bpd, up 100,000 bpd from April's 28.1 million bpd.
"It's a report like this that really sums up just where OPEC is, and where the Saudis are as well," said John Kingston, global director of oil at Platts.
"The Iraqis are struggling; there's no sign of a turnaround in Venezuelan output; only minor increases come from big producers like Iran."
Increases totaling 180,000 bpd from Algeria, Iran, Kuwait, Libya, Nigeria and Saudi Arabia were offset by 120,000 bpd in declines from Iraq, the UAE and Venezuela. Saudi Arabia and Kuwait each pushed out an extra 50,000 bpd.
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