OPEC Update, January 2024

The OPEC Monthly Oil Market Report (MOMR) for January 2024 was published recently. The last month reported in most of the OPEC charts that follow is December 2023 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In many of the OPEC charts that follow the blue line with markers is monthly output and the thin red line is the centered twelve month average (CTMA) output.  For the first chart I compare OPEC- 13 with OPEC -12 due to Angola deciding to leave OPEC and reducing the number of OPEC nations by one.

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US October Oil Production Held Steady

By Ovi

All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM which provides updated information up to October 2023.

U.S. October oil production decreased by 4 kb/d to 13,248 kb/d. The decrease was primarily due to decreases in the GOM and North Dakota being partially offset by increases in Texas and New Mexico. Note that September production was revised up from 13,236 kb/d to 13,252 kb/d.

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