LONDON:
The Organization of the Petroleum Exporting Countries (Opec) oil supply rose in January to the highest in 13 months, a Reuters survey showed, further reducing compliance with output targets that members said they would stick to at a meeting in December. Supply from the 11 members of Opec with output targets, all except Iraq, will average 26.71 million barrels per day (mbpd), up from a revised 26.65 mbpd in December, according to the survey of oil firms, Opec officials and analysts.