OPEC Update - May 2024

seekingalpha05-21

Crude output for OPEC 12 decreased by 48 kb/d in April with decreases coming from Nigeria, Iraq, and Venezuela which were offset by increases in Congo and Iran.Preliminary March 2024 data shows total ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOPEC Update - May 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-21 17:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4694713-opec-update-may-2024><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Crude output for OPEC 12 decreased by 48 kb/d in April with decreases coming from Nigeria, Iraq, and Venezuela which were offset by increases in Congo and Iran.Preliminary March 2024 data shows total ...</p>\n\n<a href=\"https://seekingalpha.com/article/4694713-opec-update-may-2024\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_CL","symbol_name":"WTI原油","start_time":0,"source_url":"https://seekingalpha.com/article/4694713-opec-update-may-2024","article_id":"2437632499","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1406680096/image_1406680096.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437632499","pubTimestamp":1716282000,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Crude output for OPEC 12 decreased by 48 kb/d in April with decreases coming from Nigeria, Iraq, and Venezuela which were offset by increases in Congo and Iran.Preliminary March 2024 data shows total ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"DDG":"ProShares做空石油与天然气ETF","BK4203":"医疗保健房地产投资信托","BK4588":"碎股","SCO":"二倍做空彭博原油指数ETF","USO":"美国原油ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","BK4585":"ETF&股票定投概念","DWT":"三倍做空原油ETN","UCO":"二倍做多彭博原油ETF","BK4570":"地缘局势概念股","BK4225":"医疗保健房地产信托","DOC":"Healthpeak Properties, Inc"},"translate_title":"石油输出国组织最新情况-2024年5月","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DOC":1,"CLmain":1,"QMmain":1,"SCO":1,"UCO":1,"USO":1,"DDG":0.6,"DUG":0.6,"DWT":0.6,"BZmain":0.6},"content_text":"Crude output for OPEC 12 decreased by 48 kb/d in April with decreases coming from Nigeria, Iraq, and Venezuela which were offset by increases in Congo and Iran.Preliminary March 2024 data shows total OECD commercial oil stocks up by 20.2 Mb, m-o-m.In this month’s MOMR, OPEC has stopped reporting the balance of supply and demand for OPEC and is reporting the balance of supply and demand for the Declaration of Cooperation nations.William_Potter A guest post by D Coyne The OPEC Monthly Oil Market Report (MOMR) for May 2024 was published recently. The last month reported in most of the OPEC charts that follow is April 2024 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In the OPEC charts that follow, the blue line with markers is monthly output and the thin red line is the centered twelve-month average (CTMA) output.   Crude output for OPEC 12 decreased by 48 kb/d in April with decreases coming from Nigeria, Iraq, and Venezuela which were offset by increases in Congo and Iran.              Preliminary March 2024 data shows total OECD commercial oil stocks up by 20.2 Mb, m-o-m. At 2,793 Mb, they were 34 Mb higher than the same time one year ago, 38 Mb lower than the latest five-year average and 121 Mb below the 2015-2019 average.   In this month's MOMR, OPEC has stopped reporting the balance of supply and demand for OPEC and is reporting the balance of supply and demand for the Declaration of Cooperation (DOC) nations. They also reported this DOC estimate last month along with the OPEC supply and demand, and the DOC estimate for May 2024 is unchanged from last month's estimate.  The OPEC estimate for US tight oil in 2023 was revised higher by 40 kb/d compared to last month's estimate. The estimates for 2024 and 2025 were also raised by the corresponding 40 kb/d with the change in output each year remaining the same as last month's estimate (360 kb/d increase in 2024 and 400 kb/d increase in 2025). My estimate remains about a 150 kb/d increase on average for 2024 and 2025 US tight oil output, with most of the increase coming from the Permian Basin.  This chart suggests a plateau in World output from 2015 to 2032 at an average output of about 82 Mb/d (if we drop the 2020 and 2021 Covid-19-affected years) with output in the range of 81 to 83 Mb/d. This scenario assumes incremental changes which are not likely to be enough to avoid the danger of collapse due to environmental damage, much more needs to be done.  Original Post  Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2437632499"}