OPEC is pumping enough oil to keep world markets more than satisfied and oil prices have been high largely due to geopolitical risk, OPEC said on 10 May. OPEC said its own production had risen in April to 31.62mn b/d as Iraq ramped up and Libya’s oil industry recovered. And the increased flows helped push oil down $15 from a March high of $128/B. Higher OPEC crude oil production underscores the current trend of plentiful supply in excess of market requirements,” OPEC said in its Monthly Oil Market Report.