VIENNA, April 13 (UPI) -- There are no physical disruptions in the oil markets, only perceived shortages, meaning markets are well-supplied, OPEC said in its monthly report.
The Organization of Petroleum Exporting Counties said oil prices were roughly 4.7 percent higher in March than they were the previous month. This "was supported by supply glitches in the North Sea and East Africa, improving economic data from the U.S. and China and persistent geopolitical factors, which were further amplified by speculative activities," OPEC said.