SCO - OPEC: Signs Of A Major Oil Deficit

The big three determinants of the health of the oil industry today are 1) global demand, 2) US output, and 3) OPEC output. Each month, OPEC as an organization releases their own forecast for how the oil industry looks, and while they don’t forecast their own production as a team, they do provide a look at recent months that gives market participants a view of how much oil has been produced and what it means for the global market. In its most recent report, the group targeted April’s production, which came in about flat compared