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OPEC Guide



OPEC crude oil output



OPEC production (in million b/d)

Member March Change February January
Algeria
1.04
0.00
1.04
1.05
Angola
1.60
-0.06
1.66
1.63
Ecuador
0.52
0.00
0.52
0.52
Gabon
0.21
0.02
0.19
0.20
Iran
3.77
0.02
3.75
3.72
Iraq
4.40
0.00
4.40
4.48
Kuwait
2.70
-0.01
2.71
2.70
Libya
0.62
-0.05
0.67
0.67
Nigeria
1.59
-0.11
1.70
1.65
Qatar
0.60
-0.03
0.63
0.62
Saudi Arabia
10 0.15
9.85
9.98
UAE
2.85
-0.05
2.90
2.93
Venezuela
1.95 -0.06
2.01
2.0
Total
31.85
-0.18
32.03
32.16


Notes:


OPEC ministers on November 30, 2016 finalized a deal to freeze production at around 32.5 million b/d, beginning January 1, 2017, for six months.
The agreement exempts Libya and Nigeria, while allowing Iran a small increase in production.
Indonesia suspended its membership on November 30, but its output is being counted by OPEC under the production ceiling.
Non-OPEC producers led by Russia also agreed to cut output by 558,000 b/d in the first half of 2017, with Russia set to cut 300,000 b/d.
The committee in charge of monitoring the implementation of the proposed OPEC and non-OPEC production cut is to be co-chaired by representatives of Kuwait and Russia, and will also have representatives from Algeria, Venezuela and Oman.
The estimate for Iraq includes volumes from semi-autonomous Iraqi Kurdistan.


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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