27 February 2020

OPEC oil output down in December 2019

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According to secondary sources, total OPEC-14 preliminary crude oil production averaged 29.44 million barrels per day (mb/d) in December, lower by 161,000 barrels per day (tb/d) month-on-month. reports citing OPEC.

Crude oil output increased mainly in Angola, while production decreased in Saudi Arabia, Iraq and the UAE, according to the report.

The share of OPEC crude oil in total global production decreased by 0.1 percentage points to 29.4 percent in December compared with the previous month. “Estimates are based on preliminary data from direct communication for non-OPEC supply, OPEC NGLs and non-conventional oil, while estimates for OPEC crude production are based on secondary sources.”

Preliminary data indicates that the global oil supply in December decreased by 0.06 mb/d to average 100.28 mb/d, compared with the previous month.

2020.01.15 / 20:12
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