by Just came out. Saudis still producing and selling far below their stated ‘cap’: OPEC November Crude Output Down 33,000 Bbl/Day to 32.121 Mln2015-11-30 17:55:55.463 GMTNew York, Nov. 30 (Bloomberg) — Crude-oil production from the 12 OPEC members in November declined 33,000 barrels a day from October, the latest Bloomberg survey of producers, oil companies and industry analysts shows. Figures are in the thousands of barrels a day.Nov. Oct. Monthly 1/1/2012 Nov. vs Est.OPEC Country Est. Output Change Target* Target Cap(@)Algeria 1,100 1,100 0 — — 1,150Angola 1,840 1,814 26 — — 1,870Ecuador 537 544r -7 — — 540Iran 2,800 2,800r 0 — — 2,900Iraq* 4,321 4,217r 104 — — 4,400Kuwait# 2,850 2,820 30 — — 2,950Libya 375 430 -55 — — 1,550Nigeria 1,878 2,019 -141 — — 2,200Qatar 670 640 30 — — 780Saudi Arabia# 10,330 10,300r 30 — — 12,500U.A.E.
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Just came out.
Saudis still producing and selling far below their stated ‘cap’:
OPEC November Crude Output Down 33,000 Bbl/Day to 32.121 Mln
2015-11-30 17:55:55.463 GMTNew York, Nov. 30 (Bloomberg) — Crude-oil production from the 12 OPEC members in November declined 33,000 barrels a day from October, the latest Bloomberg survey of producers, oil companies and industry analysts shows. Figures are in the thousands of barrels a day.
Nov. Oct. Monthly 1/1/2012 Nov. vs Est.
OPEC Country Est. Output Change Target* Target Cap(@)
Algeria 1,100 1,100 0 — — 1,150
Angola 1,840 1,814 26 — — 1,870
Ecuador 537 544r -7 — — 540
Iran 2,800 2,800r 0 — — 2,900
Iraq* 4,321 4,217r 104 — — 4,400
Kuwait# 2,850 2,820 30 — — 2,950
Libya 375 430 -55 — — 1,550
Nigeria 1,878 2,019 -141 — — 2,200
Qatar 670 640 30 — — 780
Saudi Arabia# 10,330 10,300r 30 — — 12,500
U.A.E. 2,940 2,970 -30 — — 3,150
Venezuela 2,480 2,500 -20 — — 2,500
Total OPEC-12 32,121 32,154r -33 30,000 2,121 36,490
Total OPEC-11 27,800 27,937r -137 — — 32,090
Yes, it’s still expanding, but seems the rate peaked as oil capex collapsed and its since been decelerating:
