The OPEC Monthly Oil Market Report (MOMR) for September 2024 was published recently. The last month reported in most of the OPEC charts that follow is August 2024 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In the OPEC charts below the blue line with markers is monthly output and the thin red line is the centered twelve month average (CTMA) output.
Output for June 2024 was revised lower by 27 kb/d and July 2024 output was revised lower by 28 kb/d compared to last month’s report. OPEC 12 output decreased by 197 kb/d with most of the decrease from Libya’s output (219 kb/d.) Iraq decreased by 50 kb/d, Nigeria increased crude output by 57 kb/d, Saudi Arabia saw a decrease of 25 kb/d.
Read More
