OPEC MOMR November 2017
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World Oil Supply

56

OPEC Monthly Oil Market Report – November 2017

OPEC crude oil production

According to

secondary sources

, total

OPEC-14 crude oil production

averaged 32.59 mb/d in October,

a decrease of 151 tb/d over the previous month. Crude oil output increased in Angola, Libya and

Saudi Arabia, while production showed declines mainly in Iraq, Nigeria, Venezuela, Algeria and Iran.

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 Aug 17 Sep 17 Oct 17

Oct/Sep

Algeria

1,108 1,090 1,052 1,054 1,054 1,057 1,050 1,012

-38.4

Angola

1,777 1,725 1,632 1,648 1,641 1,642 1,641 1,711

69.8

Ecuador

543

545

530

530

536

535

534

541

7.1

Equatorial Guinea

185

160

141

137

130

124

130

135

5.4

Gabon

214

221

200

203

198

185

201

203

1.8

Iran, I.R.

2,836 3,515 3,796 3,793 3,833 3,833 3,835 3,823

-11.3

Iraq

3,974 4,392 4,449 4,455 4,484 4,466 4,514 4,383

-131.0

Kuwait

2,764 2,853 2,712 2,709 2,706 2,705 2,712 2,708

-3.7

Libya

404

390

656

709

931

871

920

962

42.3

Nigeria

1,838 1,556 1,512 1,594 1,769 1,802 1,792 1,738

-54.4

Qatar

663

656

608

613

609

608

606

600

-5.9

Saudi Arabia

10,142 10,406 9,884 9,955 9,992 9,969 9,983 10,000

16.9

UAE

2,908 2,979 2,937 2,911 2,920 2,922 2,917 2,911

-6.0

Venezuela

2,319 2,154 2,002 1,964 1,931 1,936 1,907 1,863

-43.6

Total OPEC

31,675 32,643 32,111 32,273 32,734 32,651 32,740 32,589

-150.9

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

Source: OPEC Secretariat.

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

Oct/Sep

Algeria

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

997

-66.0

Angola

1,767 1,722 1,638 1,635 1,668 1,680 1,657 1,601

-56.0

Ecuador

543

549

533

..

..

..

..

..

..

Equatorial Guinea

..

..

138

126

124

123

126

123

-3.0

Gabon

..

..

..

..

..

..

..

..

..

Iran, I.R.

3,152 3,651 3,894 3,878 3,865 3,845 3,848 3,810

-38.0

Iraq

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

0.0

Kuwait

2,859 2,954 2,705 2,710 2,700 2,700 2,700 2,700

0.0

Libya

..

..

..

..

..

..

..

..

..

Nigeria

1,748 1,427 1,388 1,485 1,592 1,630 1,583 1,663

79.6

Qatar

656

652

595

608

589

585

571

596

24.8

Saudi Arabia

10,193 10,460 9,882 9,965 9,978 9,951 9,973 10,056

82.5

UAE

2,989 3,088 3,010 2,984 2,969 2,969 2,961 2,950

-11.0

Venezuela

2,654 2,373 2,261 2,127 2,102 2,100 2,085 1,955

-130.0

Total OPEC

..

..

..

..

..

..

..

..

..

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

.. Not available.

Source: OPEC Secretariat.