- OPEC agrees to extend its current supply curbs in order to meet the oversupply from the US that is hitting the markets.
- Canada’s newest and biggest Oil pipeline is set to come online in the coming weeks, according to MEG Energy Corp.
- According to a Bloomberg Survey, despite the production cuts, other OPEC members are pumping above average: Libya saw its production in February rise by 120 million barrels, which is 11.2% of monthly increase as it resumed production from its Sahara Oil field. Nigeria rose by 2% in February.
- Iraq and the United Arab Emirates (UAE) are currently pumping up near 400 million barrels per day above target.
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