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OPEC’s Spare Crude Oil Production Capacity near 2-Month Low

Gordon Kristopher
OPEC’s Spare Crude Oil Production Capacity near 2-Month Low

The EIA estimates that OPEC’s spare crude oil production capacity fell by 30,000 bpd (barrels per day) to 1,940,000 bpd in April—compared to the previous month. OPEC’s spare crude oil production capacity is near a two-month low.