The Oil Drum

212 comments on DrumBeat: October 15, 2007

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Darwinian on October 15, 2007 - 9:43am

OPEC 10 production unchanged in September

OPEC is out with its semi-official production numbers for September. I say semi-official because they are published on OPEC’s own Monthly Oil Market Report but since no OPEC country publishes their production numbers, they make sure you understand they are according to secondary sources. However these are the figures OPEC used when setting their quotas.

The September production numbers are on the very last page of this 49 page PDF report.

OPEC Production in millions of barrels per day.

Country      August      Sep   Change
Algeria       1.35       1.37    +.02
Indonesia     0.84       0.84     Unc
Iran          3.87       3.84    -.03
Kuwait        2.45       2.50    +.05
Libya         1.71       1.72    +.01
Nigeria       2.14       2.12    -.02
Qatar         0.82       0.84    +.02
Saudi         8.62       8.55    -.07
UAE           2.57       2.59    +.02
Venezuela     2.36       2.35    -.01

OPEC 10      26.73      26.72    -.01

Iraq          1.99       2.18    +.19
Angola        1.67       1.69    +.02

OPEC 12      30.39      30.61    +.22

*Note: If you total the above numbers for September they come to 30.59 mb/d but OPEC lists 30.61 mb/d as their total. I have no idea where that extra .02 mb/d came from. But it is worth noting that production from the OPEC 10, all the nations that are subject to quotas, was virtually unchanged. The big increase of just over 200 thousand barrels per day came from Iraq and Angola, who are not subject to OPEC quotas.

Ron Patterson

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Prager on October 15, 2007 - 10:07am

Should the OPEC 10 line not read:
OPEC 10 .... 26.73 .. 26.72 .. -.01

Interesting numbers all the same.

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Darwinian on October 15, 2007 - 11:09am

Thanks Pager, that was a typo on my part. Leanan has corrected my error. Thanks Leanan.

Ron

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Starship Trooper on October 16, 2007 - 10:24am

Is this part of what caused the runnup in oil prices for the day.

Geez!, I unplug for a day (to finish my taxes) and TSHTF! Well, as I said last week, I look for this to go on about two more weeks, tail off until just before the US Thanksgiving before dipping a bit further.

But I must admit the though crossed my mind that we aren't all that far away from hitting 3 Yergins ;->

If oil stays up this week, it'll make the class I'm teaching in Atlanta next week pretty interesting.