2024-01-27 01:33:00 ET
Summary
- Preliminary data indicates that global liquids production in December 2023 increased by 0.2 Mb/d to average 101.9 Mb/d compared with the previous month.
- OECD Commercial Oil stocks were 7.3 Mb higher in December than last month.
- The OPEC forecast for US tight oil output has been revised lower since last month though it may still be optimistic at current oil and natural gas price levels.
A guest post by D Coyne
The OPEC Monthly Oil Market Report (MOMR) for January 2024 was published recently. The last month reported in most of the OPEC charts that follow is December 2023 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In many of 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. For the first chart I compare OPEC- 13 with OPEC -12 due to Angola deciding to leave OPEC and reducing the number of OPEC nations by one....
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For further details see:
OPEC Update, January 2024