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Oil in Global Economy Series: Platts’ survey suggests OPEC production up 40,000 barrels in December

Platts has released its December oil market production survey and it suggests that OPEC production is set for a rise in tune of 40,000 barrels per day in December compared to the November, including Nigeria and Libya. The gap is calculated based on Platts’ survey and secondary production data from OPEC. Data based on Platts’ survey, however, shows 28,000 barrels decline compared to November.  Below are the production details of individual countries.

WTI is currently trading at $60.3 per barrel and Brent at $6.2 per barrel premium to WTI.

 

Target as per OPEC deal
 (million barrel per day)


December production based on Platts’ survey
 (million barrel per day)

 

November production based on OPEC report
 (million barrel per day)

Algeria

1.039

1.10

 

1.013

Angola

1.673

1.66

 

1.581

Ecuador

0.522

0.53

 

0.533

Gabon

0.193

0.21

 

0.197

Iran

3.797

3.69

 

3.818

Iraq

4.351

4.63

 

4.396

Kuwait

2.707

2.83

 

2.703

Qatar

0.618

0.64

 

0.604

Saudi Arabia

10.058

10.42

 

9.996

UAE

2.874

3.03

 

2.883

Venezuela

1.972

2.05

 

1.834

total

29.804

30.77

 

29.685

 

  • According to the survey, Libya produced around 0.64 million barrels per day in December and Nigeria produced 1.44 million barrels per day.
  • Total OPEC production for December was at 32.85 million barrels per day, compared to 32.45 million barrels per day production in November (based on OPEC report).

 

 

 

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2018-01-18 16:31:10
0m

January 18 16:00 UTC Released

USEIA Weekly Heatoil Stock

Actual

0.084 M

Forecast

Previous

-0.769 M

January 18 16:00 UTC Released

USEIA Weekly Crude Runs

Actual

-0.448 M

Forecast

Previous

-0.285 M

January 18 21:30 UTC 222222m

NZManufacturing PMI

Actual

Forecast

Previous

57.7 0

January 19 07:00 UTC 792792m

DEProducer Prices MM

Actual

Forecast

Previous

0.1 %

January 19 07:00 UTC 792792m

DEProducer Prices YY

Actual

Forecast

Previous

2.5 %

January 19 08:00 UTC 852852m

HUGross Wages YY

Actual

Forecast

Previous

12.8 0

January 19 09:00 UTC 912912m

EZCurrent Account NSA,EUR

Actual

Forecast

Previous

35.9 Bln EUR

January 19 09:00 UTC 912912m

EZCurrent Account SA, EUR

Actual

Forecast

Previous

30.8 Bln EUR

January 19 09:30 UTC 942942m

GBRetail Sales MM

Actual

Forecast

Previous

1.1 %

January 19 09:30 UTC 942942m

GBFuel MM

Actual

Forecast

Previous

1.2 %

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