Department of Economics, University of Utah
E-mail: minqi.li@economics.utah.edu
July 2018
This is Part 2 of the World Energy Annual Report in 2018. This part of the Annual Report provides updated analysis of world oil production and consumption, evaluates the future prospect of world oil supply and considers the implications of peak oil production for global economic growth.
(See Figure 18 near end of paper) Read More
All data below is from the OPEC Monthly Oil Market Report. All data is in thousand barrels per day and is through June 2018.
The Republic of the Congo was added to OPEC this month. The data below does not reflect that addition. I will try to add them next month.
OPEC 14 production was up 161,000 barrels per day in June. That does not include the Congo which was up 12 kbpd.
Notice: This is The Republic of the Congo, a much smaller nation than the DRC, or The Democratic Republic of the Congo.
May OPEC production was revised down 39,000 bpd. Saudi Arabia was revised up 28,000 bpd, Qatar was revised up 17,000 bpd while Nigeria’s May production was revised down 79,000 bpd.
All OPEC data below is from the OPEC Monthly Oil Market Report. All OPEC data is in thousand barrels per day and is through May 2018.
OPEC 14 Crude oil production was up 35,000 barrels per day but that was after March production had been revised down by 32,000 bpd and April production was revised down by 89,000 bpd.
The OPEC charts below were created with data from the OPEC Monthly Oil Market Report. The PDF File can be downloaded from here: OPEC MOMR All OPEC data is through April 2018 and is in thousand barrels per day.
There was little change in OPEC production in April.
OPEC production was up 12,000 barrels per day in April but that was after February production had been revised down by 74,000 bpd and March production revised down by 39,000 bpd.
The latest OPEC Monthly Oil Market Report is out with production numbers for December 2017. All data is in thousand barrels per day.
Total OPEC crude only production was up by 42,400 barrels per day in December. However, that was after November production was revised downward by 75,000 bpd. So OPEC production was actually down 33,000 bpd from what was reported last month.