Iraq boosts oil production to record before talks to cap output

Iraq increased crude output to a record level in March, ahead of a meeting of members of the Organization of the Petroleum Exporting Countries (OPEC) and other producers in Qatar on capping production to curb a global glut, according to Bloomberg.
Crude output in OPEC`s second-biggest producer rose to 4.55 million barrels a day last month from 4.46 million barrels in February, Bloomberg reports referring to the state-run Oil Marketing Co.
Exports increased to 3.81 million barrels a day in March from 3.23 million the previous month, the company, known as Somo, said in an e-mailed statement, according to Bloomberg.
As reported earlier, the OPEC and other major producers such as Russia are set to meet in the Qatari capital Doha on April 17 to decide on a possible freeze in crude output in an attempt to shore up prices. Iraq supports an agreement reached in February between Saudi Arabia, Russia, Venezuela and Qatar to cap output at January levels, Iraqi Oil Ministry Spokesman Asim Jihad said on March 23, without confirming if the country agrees to freeze its own production.

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