Non-Opec-Plus: September Culminates in Upstream Euphoria

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Countries not aligned with Opec-plus are working the wellhead as if on steroids. In September, production of hydrocarbon liquids by this group soared by 725,000 barrels per day on the month and reached 48.85 million b/d including refinery gains, a new record, Energy Intelligence’s latest assessment shows. The result was a 500,000 b/d improvement on the previous record posted in December 2019. September output, which could represent a high for the year now that Brazilian biofuels will undergo a seasonal decline, was 3.25 million b/d more than the start of 2022. Two years after the pandemic-induced doldrums, non-Opec-plus is showing that it can push the pedal to the metal.

Non-Opec Supply, Crude Oil, Oil Supply
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