Details from the latest OPEC monthly report 11 October 2017
- OPEC Crude Oil Production In August Decreased By 89kBd To An Average Of 32.75mbd – Secondary Sources.
- Saudi Arabia Sep Crude Oil Production +22kbpd to 9.973mbpd
- Global Oil Supply Decreased By 0.41mbd To Average 96.75mbd In September
- Global Oil Demand Is Expected To Rise By 1.5mbpd In 2017 After An Upward Revision Of 30kbpd
- 2017 Demand For OPEC Crude Seen At 32.8mbpd, Around 0.6mbpd Higher Than Last Year
- For 2017, Non-OPEC Oil Supply Is Now Projected To Rise By 0.7mbpd To 57.65mbpd Broadly Unchanged From August
- US Crude Oil Imports Decreased By 856kbpd To Average 7.1mbpd In September Following The Impact Of Hurricane Harvey
- The OPEC Reference Basket Rose For The Third Consecutive Month In September To Average $53.44/B, Representing A Gain Of $3.84/B Or 6%.
- Year-To-Date, The Basket Was $11.59 Or 30.1% Higher
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