OPEC Jan Output Trickles Up To 33 Million B/D, Enough For 2Q – Tracker

DUBAI -(Dow Jones)- Crude oil production from the Organization of Petroleum Exporting Countries trickled higher in January, with the group’s present output sufficient to meet its share of global oil demand in the seasonally weaker April-June period, tanker tracker Petrologistics said Tuesday.

The data underscore the expectation among oil ministers and analysts that the cartel won’t alter its output levels when it meets Friday in Vienna.


Production from the group’s 13 members was expected at 32.9 million barrels a day, 100,000 barrels a day higher than seen in December, the Geneva-based consultancy firm said.

The figures for January and December include Ecuador, which rejoined the group in November.

“A production of nearly 33 million barrels a day is enough for the second quarter,” said Petrologistics’ Conrad Gerber.

The bulk of January’s increase was expected to come from Iran, where production is estimated at 4.15 million barrels a day, up 300,000 barrels a day on December, Gerber said.

Angola’s output nudged higher to 1.9 million barrels a day in January against 1.87 million barrels a day the previous month, Gerber said.

Increased shipments from both countries follow delays in loading tankers in December due to poor weather conditions, he added.

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