OPEC+ Data Deck (July 2024)
Participating group-wide crude output fell in June to the lowest level in three years as Russia continued to transition from export-based to production-based cuts.
Below the paywall you will find the latest monthly edition of the Commodity Context OPEC+ Data Deck (34-page PDF), tracking group-wide and member-level production estimates, quotas, compliance, and exports.
If you’re already subscribed and/or like the free summary bullets, hitting the LIKE button is one of the best ways to support my research.
Quota-participating OPEC+ crude production fell another 202 kbpd m/m to 33.84 MMbpd in June or its lowest level since mid-2021.
Group-wide compliance improved as production finally came back in line with the aggregate production target but was driven by deeper underproduction across the producer group that could offset continued overproduction across Iraq, Russia, and Kazakhstan.
[Further analysis and full OPEC+ Data Deck PDF report below paywall]