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OPEC August Crude Oil Production

OPEC August Crude Oil Production

All data below is based on the latest OPEC Monthly Oil Market Report.

All data is through August 2017 and is in thousand barrels per day.

The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. I do not have historical data for Equatorial Guinea so I may not add them at all.  OPEC production has held steady for the past three months. Their production was down 79,000 barrels per day in August but that is not a big drop when production is over 32.5 million barrels per day.

August production was down 79,100 barrels per day.

Not much is happening in Algeria. They peaked almost 10 years ago and have been in slow decline ever since.

Angola peaked in 2010 but have been holding pretty steady since.

Ecuador peaked in 2015.

Gabon’s oil production dropped 32,300 bpd in August.

Iran has obviously reached peak post sanctions production. Like every other OPEC member, they are producing every barrel they possibly can.

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