OPEC production for March is down 201,400 bod, this is not production cut, this is production loss due to oil depletion or political instability. Think about it, if those countries have extra production capability, why would they cut further beyond the agreement. (谈股论金)  557次阅读

作者: longterminvestor , 发表于: 2018-04-13 (2416天前) @ 雅歌

The group’s collective output fell by a whopping 201,400 barrels per day in March, compared to a month earlier. It was the largest single-month decline since November and it took OPEC’s combined production down to 31.958 million barrels per day (mb/d), which is the lowest level in a year.

To be expected, Venezuela lost a significant chunk of output, falling by 55,300 bpd, taking production down to 1.488 mb/d, according to OPEC’s latest Oil Market Report. But the ongoing production losses in Venezuela are not really surprising. The surprise was that output fell by rather large volumes elsewhere, including Algeria (-49,500 bpd), Angola (-81,700 bpd), Iraq (-13,100 bpd), Libya (-37,200 bpd) and Saudi Arabia (-46,900 bpd).