All OPEC data reflected in the charts below are from the April edition of the OPEC Monthly Oil Market Report. https://momr.opec.org/pdf-download/ The data in in thousand barrels per day and all data is through March 2020. Though OPEC 13 was up 821,000 barrels per day in March it was still the fourth lowest month in 9 years. Iran, Libya, and Venezuela are exempt from the agreed on cuts. These three were down a combined 206,000 barrels per day. Those subject to cuts, were up a combined 1,026,000 barrels per day. Untitled Spreadsheet What you see here is OPEC members positioning themselves for the agreed upon cuts. This has happened twice before,in recent history, in 2016 and again in 2018. Everyone was producing flat out, and, no doubt, some even emptying their storage tanks. Nevertheless one can see the obvious decline since 2016. Here are the agreed upon cuts. Though […]