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OPEC Production vs Capacity Chart

Spare Capacity (mln b/d) - Crude Production (mln b/d) -
Country Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018
1 4.9 4.1 3.6 3.8 4.0 3.0 3.1 3.2 3.0 2.8 2.2 2.4 1.4 1.2 0.7 1.1 1.5 1.8 1.7 2.7 30.00 30.10 30.53 30.52 30.48 31.79 31.74 32.35 32.56 32.99 33.54 33.94 31.88 32.22 32.71 32.33 31.99 32.06 32.55 32.78

OPEC Production by Country

Crude Production (mln b/d) -
Country Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018
Algeria 1.11 1.11 1.12 1.11 1.10 1.09 1.12 1.12 1.05 1.06 1.06 1.02 1.01 1.03 1.06 1.07
Angola 1.77 1.76 1.77 1.78 1.77 1.74 1.73 1.61 1.64 1.64 1.67 1.63 1.55 1.49 1.48 1.46
Ecuador 0.55 0.55 0.53 0.53 0.54 0.55 0.55 0.54 0.53 0.53 0.54 0.53 0.52 0.53 0.53 0.52
Equatorial Guinea2 - - - - - - - - - 0.083 0.124 0.135 0.13 0.12 0.12 0.11
Gabon - - - - - 0.22 0.22 0.22 0.20 0.20 0.20 0.20 0.21 0.19 0.19 0.17
Indonesia6 - - - 0.67 0.71 0.74 0.74 0.747 -8 -9 -10 -11 -12 -13 -14 -15
Iran 2.82 2.85 2.87 2.88 3.15 3.59 3.67 3.77 3.79 3.77 3.83 3.82 3.81 3.81 3.61 3.04
Iraq 3.49 4.22 4.24 4.17 4.28 4.29 4.41 4.62 4.43 4.47 4.50 4.45 4.46 4.47 4.62 4.65
Kuwait16 2.80 2.77 2.78 2.73 2.83 2.82 2.89 2.86 2.70 2.71 2.70 2.70 2.70 2.71 2.80 2.78
Libya17 0.37 0.46 0.38 0.43 0.36 0.32 0.31 0.57 0.66 0.71 0.94 0.99 1.01 0.89 0.90 1.06
Nigeria18 1.81 1.78 1.80 1.90 1.76 1.52 1.39 1.44 1.40 1.49 1.64 1.59 1.66 1.51 1.63 1.65
Qatar19 0.67 0.66 0.64 0.67 0.66 0.66 0.64 0.64 0.61 0.62 0.60 0.61 0.60 0.61 0.61 0.61
Republic of Congo20 - - - - - - - - - - - - - 0.3321 0.32 0.33
Saudi Arabia22 9.86 10.33 10.29 10.21 10.21 10.32 10.62 10.55 9.90 9.98 9.99 9.99 9.95 10.14 10.43 10.78
UAE 2.84 2.87 2.92 2.89 2.81 2.91 3.09 3.13 2.93 2.93 2.93 2.90 2.84 2.88 3.00 3.27
Venezuela 2.39 2.43 2.40 2.38 2.36 2.22 2.15 2.13 2.04 2.02 1.99 1.76 1.54 1.36 1.25 1.27
Total23 30.48 31.79 31.74 32.35 32.56 32.99 33.54 33.94 31.88 32.22 32.71 32.33 31.99 32.06 32.55 32.78

OPEC Country News

New Zealand Oil & Gas Recommends Scheme of Arrangement with O.G. Oil & Gas at $0.62 Cash Per Share
New Zealand Oil & Gas Limited (July 10, 2019)
Gbetiokun-3 Update
Eland Oil & Gas PLC (July 10, 2019)
Saudi Aramco Awards Contracts Valued at $18 Billion to Increase Marjan and Berri Oilfields’ Production Capacity
Saudi Aramco (July 09, 2019)
Lloyds, Mitsubishi Partner to Build 1,200-MW LNG Merchant Power Hub
Lloyds Energy Group LLC (July 08, 2019)
Proposed Acquisition of Edison E&P and Placing of New Ordinary Shares to Raise Up to US$265 Million
Energean Oil & Gas Plc (July 04, 2019)
Ormat Technologies Acquires 49% of Ijen Geothermal Project in Indonesia
Ormat Technologies Inc. (July 02, 2019)
DP World Acquires Leading International Marine Logistics Operator
DP World PLC (July 01, 2019)
Acquisition of Topaz Energy and Marine
Topaz Energy and Marine (July 01, 2019)
DP World in Talks to Acquire Oil and Gas Firm Topaz Energy
Topaz Energy and Marine (June 30, 2019)
Recent Speculation on Potential Acquisition of Topaz Energy
DP World PLC (June 30, 2019)
ADNOC Closes Landmark Pipeline Infrastructure Investment with KKR and BlackRock
ADNOC (June 27, 2019)
Saudi Aramco Signs 12 Agreements with South Korean Partners Worth Billions of Dollars
Hyundai Heavy Industries Co (June 26, 2019)
Reservoir Capital Corp. Completes Transaction to Triple its Indirect Interest in Mainstream Energy Solutions Limited
Reservoir Capital Corp. (June 26, 2019)
Crane Co. Refutes Circor’s Unrealistic Plan; Urges Shareholders to Tender Their Shares and Demand the Circor Board of Directors Engage with Crane Co.
Crane Co. (June 25, 2019)
OML 40 Operational Update
Eland Oil & Gas PLC (June 25, 2019)
Qatar Petroleum Partners with Chevron Phillips to Build the Largest Ethane Cracker in the Middle East Raising Qatar’s Polyethylene Production Capacity by 82%
Chevron Corporation (June 24, 2019)
Silk Road Fund Becomes a 49% Shareholder in ACWA Power Renewable Energy Holding Ltd
ACWA Power International (June 24, 2019)
CIRCOR Issues Open Letter to Shareholders and Provides Investor Presentation Highlighting Path to Significant Value Creation
CIRCOR International, Inc. (June 24, 2019)
Chevron Phillips Chemical and Qatar Petroleum Sign Agreement to Develop Petrochemical Complex in Qatar
Chevron Corporation (June 24, 2019)
Andalas Energy and Power Plc: Services Agreement to Indonesian KSO: Betun-Selo KSO
Andalas Energy and Power plc (June 21, 2019)
Gas Turbine Controls Agrees to Acquire Industrial Control Care (ICC), Dubai
Gas Turbine Controls Corporation (June 20, 2019)
Inpex, Shell Submit Revised Plan of Development for Abadi LNG Project
Inpex Corporation (June 20, 2019)
PTTEP Acquires Partex Holding a Strong Foothold of Expansion in the Middle East as Strategically Targeted
PTT Exploration and Production (PTTEP) (June 17, 2019)
The Calouste Gulbenkian Foundation Announces the Sale of Partex
PTT Exploration and Production (PTTEP) (June 17, 2019)
Crane Co. Commences Tender Offer to Acquire All Outstanding Shares of CIRCOR for $45 Per Share in Cash
Crane Co. (June 17, 2019)
Inpex Signs Heads of Agreement on Abadi LNG with Indonesian Authorities
Inpex Corporation (June 17, 2019)
CIRCOR to Review Crane’s Unsolicited Tender Offer
Crane Co. (June 17, 2019)
Kirkland Represents Innovex Downhole Solutions and Intervale Capital on Acquisition of Quick Connectors
Intervale Capital LLC (June 12, 2019)
Innovex Downhole Solutions Enters Artificial Lift Market Through Acquisition of Quick Connectors
Intervale Capital LLC (June 12, 2019)
Anglo African Oil & Gas Provides Operational Update on the Tilapia Field
Anglo African Oil & Gas Plc. (June 07, 2019)
Sale of New Age Interest in Marine XII Licence
Lukoil (IFRS) (June 06, 2019)
Lukoil Enters Hydrocarbon Production Project in the Republic of Congo
Lukoil (IFRS) (June 06, 2019)
Pan Orient Energy Corp.: Operations Update
Pan Orient Energy Corp. (June 06, 2019)
ENI and Sonangol Agree on Renewable Energy Initiatives in Angola
ENI (June 05, 2019)
New Fortress Energy Signs MOU with Angolan Ministries to Advance Natural Gas Infrastructure
New Fortress Energy (June 05, 2019)
ExxonMobil partners to redevelop Angola Block 15 to increase production
ExxonMobil (June 05, 2019)
Sonangol and United Shine Sign Agreement for Construction of Cabinda Refinery
Sonangol (June 04, 2019)
Angola Petroleum Leaders Announce Cabinda and Luanda Refinery Agreements, 2019 Licensing Round at Angola Oil & Gas 2019 Conference (June 04, 2019)
ENI Announces the Fifth Light Oil Discovery in Block 15/06, Offshore Angola
ENI (June 03, 2019)
Savannah Petroleum PLC - Seven Energy Transaction and Corporate Update
Savannah Petroleum Plc (May 31, 2019)
Marathon Oil Closes Kurdistan Divestiture
Marathon Oil Corp. (May 31, 2019)
Shamaran Completes Acquisition and Provides Production Update
ShaMaran Petroleum Corp. (May 31, 2019)
Petronor E&P Transaction Update
African Petroleum Corporation Limited (May 30, 2019)
Algeria to Block Total from Buying Anadarko's Algerian Assets: Minister
Total (May 27, 2019)
Gran Tierra Energy Inc. Announces Formal Signing of Ecuador Blocks
Gran Tierra Energy Inc. (May 22, 2019)
Medcoenergi Announces Completion of Acquisition of Ophir Energy plc
Medco Energi International tbk PT (May 22, 2019)
Completion of Acquisition
Medco Energi International tbk PT (May 21, 2019)
Wellpro Group announces Middle East expansion
Wellpro Group (May 16, 2019)
ENI and Sonatrach Strengthen Their Relationship by Extending the Gas Supply Contract Until 2027
ENI (May 16, 2019)
Pan Orient Energy Corp.: 2019 First Quarter Financial & Operating Results
Pan Orient Energy Corp. (May 15, 2019)

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