OPEC’s oil production increased last month by the most since July as conflict-torn Libya restored disrupted exports, and others delivered scheduled increases. The Organization of Petroleum Exporting Countries bolstered supplies by 380,000 barrels a day in February, with just under half the addition provided by the North African nation, according to a Bloomberg survey. The country’s output had been slashed by militias and bad weather during the previous month. Still, the output boost after months of under-performance by OPEC and its partners — who meet on Wednesday — looks like too little, too late. Oil prices have rocketed to a seven-year high above $105 a barrel in London as Russia’s invasion of Ukraine triggers alarm that global markets are perilously ill-equipped to handle any disruption in exports from the region. Frustrated with OPEC’s refusal — or inability — to open the taps more quickly, the U.S. and other major […]