The new OPEC Monthly Oil Market Report is out with crude only production numbers for June 2016. OPEC added Gabon to its member countries this month. But I do not have historical production numbers for Gabon so this report does not include Gabon. OPEC crude only production reached 32,643,000 barrels per day, (not including Gabon). This was an increase of just over a quarter of million barrels per day. See exact data below. Algeria, slightly up this month but is nevertheless in slow decline. Angola seems to be holding steady. Ecuador is also holding production steady. Ecuador increased its rig count from 2 to 5 in June but that is down from an average of 25 in 2013 and 2014. Indonesia has reversed its decline in the last year and one half but I don’t see much progress from this point on. Iran’s increase since sanctions were […]