Opec-Plus: Iranian Gain Prevents Drop in August Output

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
OPEC,barrels
Maxx-Studio/Shutterstock
  • Oil production by the 23-member alliance in August was 42 million barrels per day, flat compared to July.
  • Output by the 13 core members of Opec rose by 120,000 b/d to 27.4 million b/d due mainly to increases from Iran, United Arab Emirates and Libya.
  • Sources in Iran have confirmed an upswing in crude production of nearly 700,000 b/d from a dip in the first quarter.
  • The shortfall for August was nearly 1.4 million b/d, slightly higher than July.

Opec-plus’ performance last month featured a few sizable swings by individual producers, but for the group as a whole — whether the entire 23-member alliance or the 19 countries with a monthly quota — production was basically even with July.

Topics:
Opec-Plus Supply , Oil Supply, Crude Oil
Wanda Ad #2 (article footer)
#
Moscow's diesel export ban is forcing the industry to compromise as domestic tanks soon overflow and refineries might need to close.
Wed, Sep 27, 2023
The October schedule is preliminary and could change once Moscow and oil companies reach a compromise at the urging of the country's president.
Wed, Sep 27, 2023
The report caused shock waves when first released in 2021, partly because of the message — but also because of the source.
Tue, Sep 26, 2023