OPEC Deal In Jeopardy As Exempted Nations Boost Output

11 Aug 2017   OPEC

All data is through July 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. I do not have historical data for Equatorial Guinea so I may not add them at all. It doesn’t really matter since they are only a very minor producer. Also, they are in steep decline, dropping at about 10 percent per year. The huge June OPEC production increased was due to a revision, explained below. (Click to enlarge) May OPEC production was revised upward by 18,000 bpd and June OPEC production was revised upward by 109,000 bpd. Counting the June revision July production was up about 280,000 barrels per day over what was reported last month. (Click to enlarge) Not much is happening in Algeria. They peaked almost 10 years ago and have been in slow […]

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