The below OPEC charts were taken from data in the OPEC Monthly Oil Market Report . All data is through March 2019 and is in thousand barrels per day. There was another big decline in OPEC production in March, down 534,000 barrels per day. The decline was mostly Saudi Arabia, Venezuela, and Iraq. Iran, Libya and Venezuela are exempt from quotas. Everyone except Saudi Arabia are near their quota. Saudi is over half a million barrels per day below their quota. Although Iraq was down 126,000 bpd in March they are still at their average for the last two and one-half years. I think Kuwait is at, or very near, peak production except for their share of the neutral zone. That is shared 50/50 with Saudi Arabia. Their share would be about half a million barrels per day. It is shut down because of a political disagreement between the […]