opec+ falls short

摘要

Opec+ crude production rose in August, but fell far short of the group’s agreed 400,000 b/d increase thanks largely to heavy feld maintenance in Kazakhstan. Opec+ increased output by 110,000 b/d to 35.85mn b/d in August, according to an Argus output survey (see table). The rise was barely more than a quarter of the 400,000 b/d increase that ministers agreed for August, and left production almost 900,000 b/d below target. Quotas are due to rise by 400,000 b/d each month until April next year, then by 432,000 b/d each month until the cuts end, between September and December 2022.