The OPEC Monthly Oil Market Report (MOMR) for August 2022 was published recently. The last month reported in most of the OPEC charts that follow is July 2022 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In most of the OPEC charts that follow the blue line is monthly output and the red line is the centered twelve month average (CTMA) output. Figure 1 Figure 2 OPEC output was revised lower in June 2022 by 36 kb/d and May 2022 output was revised down by 76 kb/d compared to last month’s MOMR. The bulk of the July increase in OPEC output (73%) was from Saudi Arabia(158), with smaller increases from UAE(48), Kuwait(47), and Iraq (30). Venezuela had a decrease of 49 kb/d. The rest of the OPEC producers had small increases or decreases of less than 20 kb/d with a […]