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Opec drives rise in world oil supply

Global oil supply rose by 185,000 b/d in February, to 87.5m b/d, as recovering output in Canada, Mexico and the Caspian region offset reductions seen in Norway and for Opec, according to the IEA. January's total supply figure was also revised up by 110,000 b/d, because of higher Opec crude supply. Non-Opec production in February averaged 50.4m b/d, up by 300,000 b/d on the month, as the Americas and FSU recovered from January supply disruptions. For the whole of 2008, non-Opec supply growth is estimated at 0.910m b/d, with growth weighted towards the second half. Opec crude supply in February averaged 32.1m b/d – down by 0.12m b/d from the upwardly revised January total. Mideast Gulf and w

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