After the collapse of the previous OPEC+ deal in early March, OPEC opened the taps in April, pumping at its highest level in 13 months. Top producer Saudi Arabia and close ally the United Arab Emirates (UAE) saw their output jump to records in April, more than offsetting declines in Iran, Libya, and Venezuela, the monthly Reuters survey showed on Thursday. The survey, which tracks OPEC’s oil supply to the market and is based on sources at oil firms, OPEC, and shipping data, found that OPEC pumped a total of 30.25 million bpd of oil in April—the highest level since March 2019 and a rise of 1.61 million bpd compared to March 2020. Saudi Arabia was the major contributor to the higher OPEC supply as it produced a record volume of 11.3 million bpd in April, according to the Reuters survey. Oil production in the UAE, OPEC’s third-largest oil […]