2024-02-20 05:40:00 ET
Summary
- Liquids supply was 2.8 Mb/d higher than 23 months earlier and OPEC crude output was 1.0 Mb/d less than 23 months earlier.
- Preliminary December 2023 data shows total OECD commercial oil stocks down by 22.6 Mb from the November level.
- OPEC expects slower US tight oil growth in 2024 and 2025 than in 2023, and the 2024 and 2025 estimates have been revised slightly lower than last month.
A guest post by D Coyne
The OPEC Monthly Oil Market Report (MOMR) for February 2024 was published recently. The last month reported in most of the OPEC charts that follow is January 2024 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In the OPEC charts that follow, the blue line with markers is monthly output and the thin red line is the centered twelve-month average (CTMA) output....
Read the full article on Seeking Alpha
For further details see:
OPEC Update, February 2024