Global Oil Production Sputtered as gains in the US were offset by OPEC cuts.  At the December meeting, OPEC+ reached an agreement to reduce output by 1.2 million barrels per day (mbpd) with the largest cuts from Saudi Arabia (250,000 bpd) and Russia (230,000 bpd).  OPEC granted exemptions to Iran,…

Global Oil Production Had slight gains as major producers increased or maintained production while geopolitical tensions stayed relatively subdued outside of concerns over US sanctions on Iran. OPEC pumped 32.85 million barrels per day in September, a Reuter’s survey found, up 90,000 bpd from August’s revised level and the highest…

Global Oil Production held minor gains as major producers increased or maintained production while geopolitical tensions stayed relatively subdued. OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to US sanctions.  The…