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TABLE-OPEC oil output falls 200,000 bpd in December -Reuters survey
January 5, 2017 / 1:03 PM / 9 months ago

TABLE-OPEC oil output falls 200,000 bpd in December -Reuters survey

Jan 5 (Reuters) - The following table shows OPEC crude oil
output in millions of barrels per day (bpd) in December and
November, according to a Reuters survey published on Thursday.
 
    The survey indicates output from the Organization of the
Petroleum Exporting Countries fell by 200,000 bpd in December,
led by Nigeria and Saudi Arabia.
    OPEC plans to begin reducing its output to 32.50 million bpd
from Jan. 1 in its first supply cut decision since 2008 to prop
up prices. In December, no production target was in effect. 
    November's total was revised 190,000 bpd higher because
Saudi and Iraqi supply was higher than previously thought.
 
    Totals in the table below are rounded.
                December   November
 Algeria        1.10       1.09
 Angola         1.69       1.72
 Ecuador        0.55       0.55
 Gabon          0.20       0.22
 Indonesia      0.73       0.74
 Iran           3.71       3.68
 Iraq           4.71       4.66 (R)
 Kuwait         2.90       2.90
 Libya          0.63       0.56
 Nigeria        1.54       1.70
 Qatar          0.64       0.64
 Saudi Arabia   10.45      10.60 (R)
 UAE            3.09       3.10
 Venezuela      2.24       2.22
 TOTAL OPEC     34.18      34.38 (R)
    
    R = Revised
    * Indonesia suspended its OPEC membership on Nov. 30
although its production is still included in the supply target
OPEC adopted as of Jan. 1.
    The Reuters survey, based on shipping data and information
from industry sources, 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
output includes the Agbami stream and excludes Oso and Akpo
condensates.

 (Reporting by Alex Lawler, additional reporting by Rania El
Gamal; editing by Jason Neely)

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