Not Logged In, Login,

Monday, April 23, 2018

OPEC OIL PRODUCTION UP FROM 26.7 1Q00 TO 29.1 4Q00?

Prior to the Saudi announcement of a possible increase of 0.5 mbd, PIW July 3 projects the OPEC crude oil production to increase from 26.7 mbd 1Q00 to 29.1 mbd 4Q00.

Most of the potential extra production capacity is in the Middle East (in particular Saudi Arabia) and such an increase could mean one VLCC load more per day from this area in 4Q00 compared to in 1Q00.