December
OPEC output slipped to 28.08 mbd from 28.37 in November:
Survey
By Elio Ohep
Petroleumworld
CARACAS
Petroleumworld.com 01 10 06
News
agencies and think tanks surveys said on Monday that total OPEC
output slipped in December to 28.08 mbd from 28.37 in November.
Saudi output slipped a negligible 30,000 b/d to 9.4 million b/d,
due to U.S. refiners maintenance.
All
11 OPEC members pumped 29.73-mil b/d, down from a revised November
estimate of some 30.22-mil b/d.
Iraqi output averaged 1.65-mil b/d, 200,000 b/d less than in November.
"This
is the lowest we've had Iraq for a long time," said Conrad
Gerber, president of the Geneva-based consultant PetroLogistics,
who assesses OPEC crude supply by tracking tanker shipments. "There
were not any other big changes last month."
The
surveys showed Iranian output down about 100,000 b/d, despite
Iranian government insistence that its ouput is higher and working
close to capacity.
Nigeria,
output drop by 50,000 b/d from November due to the blast on a
Shell-owned pipeline Dec. 20. Venezuela, output when down 10.00
mbd, due to problems in maintaining its output.
OPEC
is scheduled to meet Jan. 31 in Vienna to discuss its output policy.
Oil ministers from Iran and Venezuela are pressing for a production
cut.
Nigeria
and Algeria, said production shouldn't be cut.
According
to AFP, Crude oil prices sank on global markets Monday on profit-taking
after recent gains, with forecasts of milder weather in the United
States pressuring prices.
New York's main contract, light sweet crude for delivery in February,
lost 71 cents to 63.51 dollars per barrel in closing trade.
In London, the price of Brent North Sea crude for February delivery
declined 71 cents to 62.01 dollars per barrel at the close of
trade.
OPEC
OUTPUT SURVE
| |
Dec. |
Nov. |
Oct. |
Sept. |
Quota |
| Saudi
Arabia |
9.40 |
9.43 |
9.45 |
9.55 |
9.099 |
| Iran |
3.90 |
4.00 |
4.00
|
3.78 |
4.110 |
| Venezuela
|
2.61 |
2.62 |
2.63 |
2.64 |
3.223 |
| UAE |
2.45
|
2.49 |
2.48 |
2.48 |
2.444 |
| Nigeria |
2.40 |
2.45 |
2.42 |
2.48 |
2.306 |
| Kuwait
|
2.60 |
2.63 |
2.60 |
2.60
|
2.247 |
| Libya |
1.62 |
1.65 |
1.65
|
1.65
|
1.500 |
| Indonesia |
0.93
|
0.93
|
0.93
|
0.93
|
1.451 |
| Algeria |
1.37 |
1.37 |
1.37 |
1.36 |
0.894 |
| Qatar |
0.80 |
0.80 |
0.80 |
0.80 |
0.726 |
| TOTAL(10) |
28.08 |
28.37 |
28.33 |
28.27 |
28.000 |
| Iraq |
1.65 |
1.85 |
1.90 |
2.07 |
|
| TOTAL(11) |
29.73 |
30.22 |
30.23 |
30.34 |
|
Data
revised from previous month.
Source:
Dow Jones, petrologistics, Platts .
Elio Ohep, Petroleumworld, editor@petroleumworld.com, 58 412 996
3730, Caracas
Petroleumworld 01 09 06
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© 2006 Petroleumworld. All rights reserved
