OPEC+ Data Deck (May 2025)
Quota-participating crude production flatlines in April despite groupwide output target hike
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 production estimates, quotas, compliance, and exports.
This month’s Deck has been updated to include 13 additional pages decomposing the implied production estimates and official production data reconciliation discussed in OPEC Supply Risk Smaller Than It May Appear, which will be an especially important frame of reference as the producer group’s policy shifts will continue to buffet crude prices.
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Quota participating OPEC+ crude production fell slightly (-17 kbpd) in April according to official data, despite the official start of the group’s cut easing plan and quota increase on the month.
Overproduction across the group declined thanks to a pullback in output and increases to quotas, which make targets easier to hit.
[Further analysis and full OPEC+ Data Deck PDF report below paywall]