Opec deepens oil production cuts
LONDON: The Organisation of the Petroleum Exporting Countries (Opec) deepened production cuts last month with laggards improving compliance with its historic deal to limit output. Overall, output fell by 40,000 barrels a day from a month earlier to 31.895 million barrels, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Iraq, the second-biggest producer in the group, and Venezuela came closer to their targets. Opec began production cuts on January 1.