OPECs crude production rose last month to the highest level in more than three years as Libya, Iraq and Angola increased supplies.
Output from the 12 members of the Organization of Petroleum Exporting Countries increased to 30.97 million barrels a day in February, the producer groups Vienna-based secretariat said Friday in its monthly oil market report. That compares to 30.82 million in January.
OPEC, provider of about 40 percent of the worlds crude, raised its output ceiling to 30 million barrels a day in December, setting its target closer to production levels. That limit includes Iraq, which was previously exempt from quotas.
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