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OPEC Crude Oil Output

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Platts Global Alert - Oil

OPEC Crude Oil Output

OPEC production (in million b/d)

COUNTRY JUN CHANGE JUL
Algeria 1.06 0.01 1.07
Angola 1.45 0 1.45
Congo 0.33 -0.02 0.31
Ecuador 0.52 0.01 0.53
Equatorial Guinea 0.13 -0.01 0.12
Gabon 0.18 0 0.18
Iran 3.80 -0.08 3.72
Iraq 4.54 0.03 4.57
Kuwait 2.71 0.07 2.78
Libya 0.70 -0.03 0.67
Nigeria 1.72 0.08 1.80
Qatar 0.61 0.01 0.62
Saudi Arabia 10.39 0.24 10.63
UAE 2.88 0.09 2.97
Venezuela 1.30 -0.06 1.24
TOTAL 32.32 0.34 32.66

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OPEC production vs. cut allocations (in million b/d)

COUNTRY JULY ALLOCATION OVER/UNDER
Algeria 1.07 1.04 +0.03
Angola 1.45 1.67 -0.22
Congo* 0.31 n/a n/a
Ecuador 0.53 0.52 +0.01
Equatorial Guinea 0.12 0.13 -0.01
Gabon 0.18 0.19 -0.01
Iran 3.72 3.80 -0.08
Iraq 4.57 4.35 +0.22
Kuwait 2.78 2.71 +0.07
Libya** 0.67 1.00 -0.33
Nigeria** 1.80 1.80 0
Qatar 0.62 0.62 0
Saudi Arabia 10.63 10.06 +0.57
UAE 2.97 2.87 +0.10
Venezuela 1.24 1.97 -0.73
TOTAL*** 32.66 32.73 -0.07

* Congo has not yet been given an allocation

** Libya and Nigeria were given a combined 2.80 million b/d cap, near their presumptive maximum sustained production capacities of 1.00 million b/d and 1.80 million b/d, respectively

*** Total allocation does not include Congo

Notes: On June 23, OPEC and 10 non-OPEC producers agreed to boost output by a combined 1 million b/d by reducing overcompliance with production cuts but left unsettled how that will be apportioned.

The estimate for Iraq includes volumes from semi-autonomous Iraqi Kurdistan.

The Republic of Congo joined OPEC in June 2018, becoming the organization's 15th member.

The next OPEC meeting is December 3.

S&P Global Platts OPEC survey methodology

Since 1988, S&P Global Platts has published a monthly survey tracking OPEC crude oil production by country. The estimates are obtained through a review of proprietary shipping data, news reportage and surveys of knowledgeable sources.

Data reviewed include loading programs, export statistics and tanker tracking via Platts cFlow. Sources interviewed for the survey include national oil company or ministry officials; analysts at international agencies, think tanks, consultancies and banks; and traders. The sources remain confidential and are interviewed by a team of Platts oil news reporters -- typically led by Herman Wang, Platts OPEC correspondent, and Eklavya Gupte, Platts senior editor for Europe and Africa news.

The survey is typically published between the 5th and 10th of each month, and it measures oil output -- excluding condensates and NGLs.

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