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Production

IEA Oil Market Report for March 2014

Abstract - Global supplies rose by 600 000 barrels a day (600  kb/d) in February to 92.81 million barrels a day (mb/d), led by a 500 kb/d jump in OPEC crude output, the IEA Oil Market Report (OMR) for March reported Friday. Total nonā€OPEC supplies grew by 1.3 mb/d in 2013 and are expected to increase by a further 1.7 mb/d this year, the highest rate of growth since at least the early 1990s, driven primarily by the United States and Canada. Russia, China and Brazil will contribute as well.