OPEC January Crude Output Down 1,050,000 Bdl/Day to 28.565M
Feb 3 (Bloomberg) — Crude-oil production from the 12 OPEC members in January declined 1,050,000 barrels a day from December, the latest Bloomberg survey of producers, oil companies and industry analysts shows. Figures are in the thousands of barrels a day.
Opec Production
January 2009
Opec Country Jan Est. Dec. Monthly Output Jan. 1 Change Est. vs. Target* Est. Target Est. Cap. (@) Algeria 1,275 1,330 -55 1,202 72 1,450 Angola 1,740 1,820 -80 1,517 223 2,000 Ecuador 475 500 -25 434 41 500 Indonesia* – – – – – – Iran 3,800 3,850 -50 3,336 464 4,100 Iraq* 2,365 2,345 20 – – 2,500 Kuwait# 2,280 2,350r -70 2,222 58 2,650 Libya 1,630 1,660r -30 1,469 161 1,800 Nigeria 1,810 1,900 -90 1,673 137 2,500 Qatar 725 790 -65 731 -6 900 Saudi Arabia# 8,025 8,400 -375 8,051 -26 10,800 U.A.E 2,290 2,350 -60 2,223 67 2,800 Venezuela 2,150 2,320 -170 1,986 164 2,500 Total OPEC-12 28,565 29,615r -1050 — — 34,500 Total OPEC-11* 26,200 27,270r -1070 24,845 1,355 32,000 *Quotas effective Jan. 1, 2009. OPEC agreed at its Dec. 17 meeting in Algeria to cut its quota target by 2.463 million barrels a day from the previous level, to 24.845 million barrels daily from Jan. 1. The quota target excludes Iraq, which has no formal quota, and Indonesia which left OPEC at end-2008.
Totals rounded.
r = revised @ = Capacity attainable within 30 days and sustainable for 90 days.
# Includes Neutral Zone production shared equally between Saudi Arabia & Kuwait.
[top