All OPEC data below is from the February edition of the OPEC Monthly Oil Market Report. The data thousand barrels per day and is through January 2020. OPEC Monthly Oil Marker Report OPEC 14 crude oil production was down 509,000 barrels per day in January. And that was after December production was revised down 86,000 barrels per day. OPEC announced a couple of months ago that Ecuador was leaving the cartel. However they were still included in January’s data. I have no idea what’s going on. Ecuador appears to still be with OPEC even though it was announced that they were leaving this month. Iran appears to be leveling out at just over 2,000,000 barrels per day. Iraq is at 4.5 million barrels per day. They have averaged 4.56 million barrels per day since the last quarter of 2016. It is my opinion that they are, and have have […]