Saudi’s production falls as they work to regain control of price after the Great Masters Inventory Liquidation runs its course.
by Diane Munro and Margot Habiby
Jan. 6 (Bloomberg) — Crude-oil production from the 13 OPEC members in December declined 475,000 barrels a day from November, the latest Bloomberg survey of producers, oil companies and industry analysts shows. Figures are in the thousands of barrels a day.
|Opec Country||Dec Est.||Nov. Output||Monthly Change||Nov. 1 Target||Est. vs. Target||Est. Cap. (@)|
*Quotas effective Nov. 1, 2008. 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.
> On Thu, Jan 8, 2009 at 9:56 AM, David wrote:
> I honestly don’t like or trust a lot of the “World
> Oil Demand” stats that many people look at.
> I think perhaps the EIA/DOE figures compiled
> below are most realistic, if not a bit lagged.
> Seems to show steady decline in US/OECD,
> rising China and flat/rising ME and rest. Wish
> they had an India bucket to be frank, have
> requested a few times already.
Thanks, still looks like the world is reasonably close to the edge, and any pickup in world economic activity could be problematic.
Saudi Production (Dec)