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Commodity Context

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Commodity Context
Commodity Context
OPEC+ Data Deck (June 2025)

OPEC+ Data Deck (June 2025)

OPEC+ crude output rose in May, but Great 8 production increased by barely more than one-third of pledged 411 kbpd quota hike.

Rory Johnston's avatar
Rory Johnston
Jun 17, 2025
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Commodity Context
Commodity Context
OPEC+ Data Deck (June 2025)
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Below the paywall you will find the latest monthly edition of the Commodity Context OPEC+ Data Deck (50-page PDF), tracking groupwide and member-level official production estimates, quotas, compliance, exports, and official production data reconciliation vs output implied by visible movements.

Become a paid subscriber today to view the latest OPEC+ Data Deck report and join me in my hunt for ever-deeper oil market context.

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  • Quota participating OPEC+ crude production rose 204 kbpd m/m in May but Great 8 members only lifted production by 37% of the 411 kbpd increase to the subgroup’s total.

  • Overproduction fell to the lowest level since January as Iraq made notable quota compliance improvements and Kazakhstan moderated its still-egregious surplus output pace.

  • Trade flow-implied crude output continues to lag in Saudi Arabia but directionally confirmed the latest monthly pullback in official Iraqi and Kazakh output figures.

[Further analysis and full OPEC+ Data Deck PDF report below paywall]

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