LONDON, May 8 (Reuters) - OPEC oil output edged lower in
April despite a scheduled output hike taking effect, a Reuters
survey found, led by a cut in Venezuelan supply on renewed U.S.
attempts to curb the flows and smaller drops in Iraq and Libya.
The Organization of the Petroleum Exporting Countries pumped
26.60 million barrels per day last month, down 30,000 bpd from
March's total, the survey showed on Thursday, with cuts by some
producers offsetting higher Iranian supply.
The reduction comes despite OPEC+, which comprises OPEC and
its allies including Russia, beginning in April to unwind its
most recent layer of output cuts. The group plans to accelerate
the hikes in May and June, citing supportive market fundamentals
such as low inventories.
The full extent of the rises will depend partly on the
impact of attempts by U.S. President Donald Trump to clamp down
on supply from Iran and Venezuela.
The biggest drop among OPEC members in April was from
Venezuela, where exports declined as cargo cancellations to U.S.
oil company Chevron ( CVX ) forced ships to return.
Iraq, which is under pressure to boost compliance with OPEC+
output quotas, also curbed output, the survey found.
There was little change in output from top producer Saudi
Arabia, and in Gulf members the United Arab Emirates and Kuwait,
despite higher OPEC+ quotas for April.
While the survey and March data provided by OPEC's secondary
sources show the UAE and Iraq are pumping close to the quotas,
other estimates, such as those of the International Energy
Agency, suggest they are pumping significantly more.
Among countries pumping more, Iran boosted exports in April,
the survey found, and provided OPEC's largest output hike with
the latest U.S. measures having little impact on output.
The Reuters survey aims to track supply to the market and is
based on flows data from financial group LSEG, information from
other companies that track flows such as Kpler, and information
provided by sources at oil companies, OPEC and consultants.
(Additional reporting by Ahmad Ghaddar
Editing by Kirsten Donovan)