(Bloomberg) -- The International Energy Agency, an adviser to 26 nations, said OPEC will add 2.6 million barrels of daily oil capacity by the end of next year, led by increases from Angola and Saudi Arabia.
The Organization of Petroleum Exporting Countries' capacity is expanding even as it restricts output, boosting oil prices to more than $60 a barrel. OPEC's 10 members subject to production cuts pumped 26.5 million barrels of oil a day in March, 1.2 million barrels less than last September, before supply cuts that helped lift oil prices, the IEA said in a monthly report.
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