An oil pump in the desert oil fields of Sakhir, Bahrain. OPEC has exempted Libya,… LONDON—OPEC pumped oil at record-high volume last month, the International Energy Agency said Tuesday, and officials from three of its member countries say they plan to raise output in the near future. The increased production shows how much work the Organization of the Petroleum Exporting Countries must do to achieve production cuts it agreed to last month in an attempt to end a crude glut that has depressed prices for two years. “Now the real work starts,” the IEA, which advises industrialized nations on energy policy, wrote in its monthly report. The market—if left to its own devices—may remain in oversupply through the first half of next year, it said. OPEC boosted its output by 160,000 barrels a day to a record 33.64 million barrels a day in September, the IEA said. At a […]