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
OPEC oil report 11 10 2017

OPEC oil report 11 10 2017

Ryan Littlestone

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Ryan Littlestone

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