Friday, August 11, 2017

OPEC Compliance At 114%? Maybe Not -- August 11, 2017

Warning! A snarky post.

I know I'm wrong, but it was my impression, based on tweets and articles by John Kemp, Reuter's London-based oil analyst-journalist, that OPEC compliance was well above 100% -- as high as 114%.

Today, this over at Twitter:

My bad: it was Platts:
Platts says "not including Libya and Nigeria, compliance among OPEC's 12 members ...remains robust at 114%, down slightly from 116% in June, based on an average of January through July output."

Compliance is 114% but yet OPEC production "hits high of 32.82 million bopd." Okay.

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