OPEC + pushed less oil than agreed in October | OilPrice.com

The OPEC + group, which had a 115 percent drop in oil production in September, rose to 116 percent in October, the union said in a statement, citing insiders, citing inability to reach a joint quota. He saw it.

The 10 OPEC members in the deal completed a total of 121 percent of the 115 percent compliance rate in September. In OPEC +, non-OPEC oil prices fell 106 percent last month, down 114 percent from last month, according to Reuters.

Last week’s OPEC report showed that ten members of the Cartelu were still struggling to reach a common goal.

OPEC crude oil production increased by 217,000 barrels (BPD) per day to 27,453 million BPD in October, but OPEC + Group’s overall growth in production was less than Cartel’s share.

Under the OPEC + Agreement, the ten OPEC members must increase their combined production by 254,000 bpd per month.

However, analysts, tanker monitoring companies, and previous OPEC monthly reports show that secondary data from last week’s OPEC Monthly Oil Market Report (MOMR) The cartel has been controlling the common product quotaThis is largely due to the fact that some members are not able to draw their own quota.

African OPEC members’ production in Nigeria, Gabon and Equatorial Guinea fell sharply in October compared to September.

According to Bloomberg, Russia’s energy source, OPEC, the leader of the OPEC Group in the deal, fell to 10.843 million Bpd last month, with crude oil and condominium production rising for the second consecutive month in October. Ministry. Since the data show that there is no difference between crude oil and condominium production, the market and analysts will evaluate condominium production by evaluating crude production. Russia’s estimated production of 800,000 bpd-900,000 is not part of OPEC + production, so it is not easy to estimate how much crude oil Russia is producing.

By Tsvetana Paraskova for Oilprice.com

More high read from Oilprice.com

.

Leave a Comment