The OPEC Monthly Oil Market Report has just came out with OPEC production data for September 2014. All production numbers are in thousand barrels per day with the last data point September 2014. The August production numbers were revised down 275,000 bpd from 30,347 kbd to 30,054 kbd. Current OPEC 12 production stands at 30,474 kbd, up 402 from the revised numbers. Saudi Arabia Saudi Arabia’s August production numbers were revised down 202 kbd. With that revision they are down another 50 kbd in Septemer to 9,605 kbd. By far the largest change in OPEC production came from Libya, up 251 kbd to 787 kbd. The other big gainer was Iraq, up 135 kbd to 3,164 kbd. Iraq et al. The four OPEC nations that have increased production over twice as much as total OPEC appears to have topped out at around 18.5 million barrels per day. Algria et […]