IEA ups April OIL supply to 91 mln barrels a day *PIC*

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IEA ups April oil supply to 91 mln barrels a day (by William L. Watts)

FRANKFURT (MarketWatch) -- Global oil supply rose to 91 million barrels a day in April, a rise of 600,000 barrels from the previous month, the Paris-based International Energy Agency said in its monthly report on Friday. Higher Iraqi, Nigerian and Libyan supplies boosted total OPEC oil production, which rose to 38.1 million barrels a day from 37.6 million, including natural-gas liquids. Total non-OPEC supply rose 100,000 barrels a day to 52.9 million. The IEA said North American production growth should average 600,000 barrels a day for the rest of the year, lifting non-OPEC supplies by the same amount to 53.3 million barrels a day. Global oil consumption is set to rise 800,000 barrels a day, or 0.9%, in 2012 to 90 million barrels a day, the IEA said, with gains in non-OECD countries more than offsetting declining OECD demand.

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