Jan ’24: OPEC+ Cuts Output by 340K B/D, Misses Target
Quick Look Total OPEC+ crude output decreased by 340,000 barrels per day, the largest drop in six months. The decline was less than half the 700,000 b/d reduction promised for Q1 2024. Key contributors to the cut include Libya, Kuwait, and Iraq, with Libya’s Sharara field shutdown impacting numbers. The UAE bucked the trend with …
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