This post updates Non-OPEC production to February 2020. However, we are now in late June 2020 and the effects of the plunge in the price of WTI which began on January 6 and ended in the negative low of $-37.63/bbl on April 20 is showing up in plunging production numbers in US and other oil-producing countries that post more recent output numbers. However, WTI has now recovered to close to $40/b and weekly US production numbers are indicating that output may have bottomed. OPEC, in response to the reduced worldwide demand associated with the outbreak of the CV pandemic, arranged a production reduction agreement through a Declaration of Cooperation (DoC) with OPEC and Non OPEC countries. At this time, the output reduction is only being seen in those Non-OPEC countries that provide one month lagged production numbers, i.e., Russia, Norway and Brazil. […]