According to Dow Jones, London, April 11, the International Energy Agency (IEA) said Thursday that global oil production declined significantly in March as a result of OPEC-led production cuts, helping to boost crude oil prices to a five-month high.
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In its monthly oil market report, the IEA said global oil production fell by 340,000 barrels a day in March to 99.2 million barrels a day from a year earlier. Compared with last November’s high, it decreased by 3.1 million barrels per day, but still increased by 530,000 barrels per day.
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