I told Dennis that I was not going to post anymore but I just found a lot of time on my hands and decided to update the OPEC numbers from the MOMR that came out yesterday. The new OPEC Monthly Oil Market Report is out with crude only production numbers for August 2016. All charts are through August 2016. OPEC crude only production reached 33,237,000 barrels per day in August. This includes Gabon. Algeria is in slow decline. Angola seems to be holding steady. Ecuador was sharply down in August but seems to be holding steady for the last two years. Gabon has been added to OPEC but their production is so low it will have little effect one way or the other. Indonesia will also not affect OPEC production in a big way one way or the other. Iran’s increase since sanctions were lifted has slowed to a […]