Opec crude oil production increased by 1.54mn b/d last month as the US-Iran détente enabled Gulf producers to increase output. Although the MoU unraveled during the first half of the month and Iran resumed attacks on shipping in the Gulf, clandestine shipments through the Strait of Hormuz continued.
The production increases lifted Opec output to 20.39mn b/d, its highest level since February. Most of the gains came from Iraq, Saudi Arabia and Kuwait, although there was also some growth outside the Gulf (see table). (CONTINUED - 1013 WORDS)
