Opec oil output survey, March… Reuters

by Jim Colburn • Wednesday, March 30, 2016

Here are some highlights from the Reuters OPEC oil output survey:  http://www.reuters.com/article/opec-oil-survey-idUSL5N1722LR

Output increased by 100,000 bpd:

“Supply from the Organization of the Petroleum Exporting Countries has risen in March to 32.47 million bpd from 32.37 million bpd in February, according to the survey, based on¬†shipping data and information from sources at oil companies, OPEC and consultants.”

Many have Iran increasing by 500,000 later in the year:

“Iran has increased output by 230,000 bpd since December, according to Reuters surveys. Iranian officials say the increase in supplies is much larger.”

“Iraq, OPEC’s largest source of supply growth in 2015, managed to raise output. An increase in southern exports to what may be a new record in March offset disruption to flows along a pipeline carrying oil from the Kurdish region.”

Saudi output was around unchanged:

“Saudi Arabia kept output steady compared with February, sources in the survey said, citing stable to slightly lower exports in March. Saudi production was assessed at 10.18 million bpd versus 10.20 million in February.”



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