OPEC’s crude oil production is estimated to have increased to a three-month high of 24.96 million barrels per day (bpd) in April, thanks to a major jump in Iran’s output, the latest survey by Argus showed . Other surveys of analysts and ship-tracking data also suggest that OPEC either boosted or maintained its crude oil production flat last month, ahead of the planned increase of 600,000 bpd from the OPEC+ coalition in May. OPEC will announce official data on the cartel’s production in its Monthly Oil Market Report (MOMR) on Tuesday, May 11. According to the Argus survey, OPEC boosted its crude oil production by 70,000 bpd in April, primarily due to an 80,000-bpd increase in Iran’s oil production which rose to a nearly two-year high. Iran, exempted from the OPEC+ cuts, is estimated to have pumped 2.35 million bpd in April, overtaking Kuwait as OPEC’s fourth-largest producer and […]