OPEC has just published their latest Monthly Oil Market Report with the June production numbers. All data is in thousand barrels per day and is Crude Only. OPEC 12 All revisions in the May data were minor. The June OPEC Crude Only production was down 80,000 bp/d from May. The big story in June was the invasion or Iraq. It has has only minor effect on production. Iraqi production was down 169,000 bp/d in June. Saudi Arabia OPEC’s largest produce and the World’s largest exporter, Saudi Arabia, increased Crude production by 48,000 bp/d in June. There has been very little change in Saudi production in the last nine months. All other OPEC producers had very little change from May to June. Charts of all 12 OPEC nations can be found on the OPEC Charts page. The big story this month comes from Russia. JODI Russia The JODI […]