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Non-Opec increases boost supply as Opec output holds steady

World supply rose by 0.745m b/d in January to 87.2m b/d, according to the IEA. New output from Brazil and assumed recovery in Azerbaijan, China and Mexico, after December outages, were behind the significant monthly rise. But while non-Opec production was up substantially, Opec output was unchanged from December, at 32.0m b/d. Angola, the UAE, Saudi Arabia and Kuwait increased supplies, but lower volumes from Iraq, Nigeria and Qatar offset these gains. The IEA claims the cartel's spare capacity was 2.4m b/d in January. But in February, Nigerian outages rose to 0.7m b/d, it said. And, at press-time, other analysts were estimating Nigerian shut-ins at almost 1m b/d. The IEA has revised down

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