The latest OPEC Monthly Oil Market Report is out with OPEC production data for. The data is “Crude Only” and does not reflect condensate production. Also the charts, except for Libya, are not zero based. I chose to amplify the change rather than the total. All Data is in thousand barrels per day with the last data point December 2014. OPEC 12 production has averaged slightly above or below 30 million barrels per day for about two years now and there is little chance it will go anywhere very fast. But what is obvious from the above chart is there has been no surge in OPEC oil production. OPEC’s December production f 30,204,000 barrels per day is still more than 1.4 million barrels per day below the peaks of 2008 and 2012. Algeria is struggling to keep production relatively flat. Angola is holding its own… so far. Ecuador increased […]