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World Oil Supply

58

OPEC Monthly Oil Market Report – October 2017

OPEC crude oil production

According to secondary sources, total

OPEC-14 crude oil production

averaged 32.75 mb/d in September,

an increase of 88 tb/d over the previous month. Crude oil output increased in Libya, Nigeria, Iraq and Gabon,

while production showed declines mainly in Venezuela.

Table 5 - 9: OPEC crude oil production based on

secondary sources

, tb/d

Table 5 - 10: OPEC crude oil production based on

direct communication

, tb/d

2015 2016 1Q17 2Q17 3Q17 Jul 17 Aug 17 Sep 17

Sep/Aug

Algeria

1,107 1,090 1,052 1,054 1,052 1,054 1,055 1,046

-8.5

Angola

1,755 1,725 1,632 1,648 1,642 1,641 1,644 1,641

-2.9

Ecuador

543

546

530

528

536

537

536

536

-0.5

Equatorial Guinea

185

164

148

138

139

144

133

141

7.5

Gabon

225

220

200

203

198

207

186

201

14.4

Iran, I.R.

2,836 3,518 3,796 3,793 3,828 3,830 3,826 3,827

0.9

Iraq

3,961 4,390 4,449 4,454 4,476 4,471 4,462 4,494

31.6

Kuwait

2,764 2,853 2,712 2,709 2,701 2,702 2,702 2,700

-1.7

Libya

404

390

656

709

932 1,003

869

923

53.9

Nigeria

1,839 1,557 1,511 1,606 1,789 1,711 1,804 1,855

50.8

Qatar

663

656

608

613

614

614

612

616

3.9

Saudi Arabia

10,142 10,406 9,884 9,954 9,992 10,025 9,975 9,975

-0.7

UAE

2,908 2,979 2,937 2,911 2,913 2,921 2,913 2,905

-8.4

Venezuela

2,375 2,159 2,002 1,964 1,927 1,949 1,942 1,890

-51.9

Total OPEC

31,707 32,654 32,117 32,285 32,738 32,808 32,659 32,748

88.5

Note: Totals may not add up due to independent rounding.

Source: OPEC Secretariat.

2015 2016 1Q17 2Q17 3Q17 Jul 17 Aug 17 Sep 17

Sep/Aug

Algeria

1,157 1,146 1,087 1,072 1,065 1,065 1,067 1,063

-4.0

Angola

1,767 1,722 1,638 1,635 1,668 1,668 1,680 1,657

-23.0

Ecuador

543

549

533

..

..

..

..

..

..

Equatorial Guinea

..

..

138

126

124

124

123

126

3.0

Gabon

..

..

..

..

..

..

..

..

..

Iran, I.R.

3,152 3,651 3,894 3,878 3,865 3,900 3,845 3,848

3.0

Iraq

3,504 4,648 4,589 4,549 4,380 4,400 4,380 4,360

-20.0

Kuwait

2,859 2,954 2,705 2,710

..

2,700 2,700

..

..

Libya

..

..

..

..

..

..

..

..

..

Nigeria

1,748 1,427 1,388 1,485

..

1,562 1,742

..

..

Qatar

656

652

595

608

589

611

585

571

-13.6

Saudi Arabia

10,193 10,460 9,882 9,965 9,978 10,010 9,951 9,973

21.7

UAE

2,989 3,088 3,010 2,984 2,969 2,977 2,969 2,961

-8.0

Venezuela

2,654 2,373 2,261 2,127 2,102 2,121 2,100 2,085

-15.0

Total OPEC

..

..

..

..

..

..

..

..

..

Note: Totals may not add up due to independent rounding.

.. Not available.

Source: OPEC Secretariat.