From the Field
Angola drives November OPEC output
LONDON, December 6, 2016 – OPEC production hit 34.19 million bopd in November, a survey has shown. The results released on Monday reveal the biggest month-on-month increase was recorded in Angola.
Output in the West African country grew from 1.47 million bopd to 1.72 million bopd, the Reuters study indicated. Production was up almost across the board, with only respondents in Saudi Arabia, Kuwait and Venezuela reporting declines.
The 370,000-bopd increase in OPEC output means the production ceiling of 32.5 million bopd agreed upon in late November would right now necessitate a cut of 1.69 million bopd.