The Organisation of Petroleum Exporting Countries (OPEC), is set to boost output as its second-biggest producer, Iraq, which pumps at a 35-year high and Libya's government makes progress in talks with rebels who control fields and export terminals in the country's oil-rich east.
Sanctions on Iran over its nuclear programme have constrained the country's production and sales of crude. OPEC plans to meet on June 11 in Vienna to review its output target, now at 30 million barrels a day.
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