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. Last Updated: 07/27/2016

OPEC to Boost Capacity

OPEC will expand its oil production capacity by 8.2 percent to almost 37 million barrels a day over the next five years on growth in Nigeria and Iraq, the International Energy Agency said Friday.

The Organization of Petroleum Exporting Countries will ramp up the amount of oil it can provide by 2.8 million barrels a day to 36.9 million barrels a day by 2014, it said.

(Bloomberg)