LONDON – The following table shows crude oil output from the Organization of the Petroleum Exporting Countries in millions of barrels per day in February and January, according to a Reuters survey published on Wednesday.
OPEC and allies, known as OPEC+, agreed in December to defer the start of output rises by three months until April and extend the full unwinding of cuts until the end of 2026 due to weak demand and booming production outside the group.
The figures in the first and second columns are in millions of barrels per day. Totals are rounded.
January’s figure for Libya was revised higher.
|
Feboutput |
Janoutput |
Change vs. Jan |
Outputtarget* |
Under/over target |
|
|
Algeria |
0.907 |
0.895 |
12,000 |
908000 |
-1,000 |
|
Congo |
0.260 |
0.260 |
0 |
277,000 |
-17,000 |
|
Eq. Guinea |
0.060 |
0.060 |
0 |
70,000 |
-10,000 |
|
Gabon |
0.220 |
0.210 |
10,000 |
169,000 |
51,000 |
|
Iraq |
3.980 |
3.940 |
40,000 |
4,009,000 |
-29,000 |
|
Kuwait |
2.405 |
2.400 |
5,000 |
2,413,000 |
-8,000 |
|
Nigeria |
1.570 |
1.520 |
50,000 |
1,500,000 |
70,000 |
|
Saudi Arabia |
8.930 |
8.950 |
-20,000 |
8,978,000 |
-48,000 |
|
UAE |
2.920 |
2.940 |
-20,000 |
2,912,000 |
8,000 |
|
TOTAL OPEC 9 |
21.252 |
21.175 |
77,000 |
21,236,000 |
16,000 |
|
Iran |
3.300 |
3.220 |
80,000 |
||
|
Libya |
1.280 |
1.270 (R) |
10,000 |
||
|
Venezuela |
0.910 |
0.900 |
10,000 |
||
|
TOTAL OPEC 12 |
26.74 |
26.57 (R) |
170,000 |
*Output target as announced by the countries making voluntary cuts, or as announced by OPEC. Excludes Iraq compensation plan for earlier overproduction.
Iran, Libya and Venezuela are exempt from OPEC output agreements.
The Reuters survey aims to assess crude supply to market, defined to exclude movements to, but not sales from, storage. Saudi and Kuwaiti data includes the Neutral Zone. Venezuelan data includes upgraded synthetic oil. Nigerian crude output includes the Agbami and Egina streams and excludes Akpo condensate.
(Additional reporting by Ahmad GhaddarEditing by Barbara Lewis)
