Highlights from the February 2018 OPEC monthly report 12 February 2018
- OPEC Crude Oil Production In January Decreased By 8 kbd To An Average Of 32.30 mbd – Secondary Sources.
- Saudi Arabia Crude Oil Production In January Increased By 3kbd To 9.983 mbd
- Global Oil Supply Increased By 0.35 mbd To Average 97.66 mbd In January
- Global Oil Demand Is Expected To Rise By 1.6mpd In 2017 Up 3 kbd From Last Month’s Forecast.
- 2018 World Oil Demand Is Expected To Reach 98.6 mbd – Up 60 kbd From December Owing To Improving Global Economic Outlook
- 2017 Demand For OPEC Crude Seen At 32.8 mbd And 2018 Demand In Seen At 32.9 mbd
- For 2018, Non-OPEC Oil Supply Is Revised Up 0.32 mbd To 59.26 mbd. This Is Driven By Higher Supply Numbers In The Us
- US Crude Oil Imports Increased By 286 kbd In December To Average 8 mbd, The Highest Level Since May 2017
- The OPEC Reference Basket Rose For The Fifth Consecutive Month To $66.85/B
- Year-To-Date, The Basket Was 27.6% Higher
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