OPEC'S OIL PRODUCTION DOWN 570 TBD
PLATTS - OPEC in March tightened the oil market considerably, slashing 570,000 b/d from its February output level, as Saudi Arabia continued to implement production cuts and Venezuela suffered from extensive power outages on top of US sanctions, an S&P Global Platts survey found.
The 14-country block pumped 30.23 million b/d in the month, the lowest in more than four years, with crisis-hit Venezuela contributing most to the decline.
Once OPEC's third-largest crude producer…
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