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home / news releases / COM - OPEC Update July 2024

COM - OPEC Update July 2024

Direxion Auspice Broad Commodity Strategy

2024-07-19 12:35:00 ET

Summary

  • Output for April 2024 was revised up by 9 kb/d and May 2024 output was also revised higher by 17 kb/d compared to last month’s report.
  • For the Rest of World, which is World Crude minus DOC Crude, output increased from the December 2016 CTMA level by 4931 kb/d through June 2024.
  • OECD stocks remain below the 5 year average, but World Oil markets seem fairly balanced when considering the price of oil.

A guest post by D Coyne

The OPEC Monthly Oil Market Report (MOMR) for July 2024 was published recently. The last month reported in most of the OPEC charts that follow is June 2024 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In the OPEC charts below, the blue line with markers is monthly output and the thin red line is the centered twelve-month average (CTMA) output....

For further details see:

OPEC Update, July 2024
Stock Information
Company Name: Direxion Auspice Broad Commodity Strategy
Stock Symbol: COM
Market: NYSE
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