galacticsurfer on May 23, 2008 - 9:46am |
I found one of the articles and something else too about increasing OPEC production but together it is interesting enough.
guardian.co.uk
LONDON, May 21 (Reuters) - OPEC oil supply in May is expected to rise by 700,000 barrels per day (bpd), led by higher output from members including Nigeria and Saudi Arabia, an industry consultant said on Wednesday.
All 13 OPEC members are expected to pump 32.4 million bpd this month compared with a revised 31.7 million bpd in April, Conrad Gerber of tanker tracker Petrologistics, told Reuters.
bloomberg.com.
May 23 (Bloomberg) -- OPEC's daily shipments of crude oil declined by 4.3 percent in the four weeks ended May 4, according to Lloyd's Marine Intelligence Unit.
Members of the Organization of Petroleum Exporting Countries, excluding Angola and Ecuador, exported 22.762 million barrels a day on tankers, according to data from the London- based tanker-tracking service. That compares with 23.786 million a day in the equivalent period to April 6.
==
That makes 1.24 million less barrels exported in April over March. It seems that they pumped in 4 weeks of April 31.7 million and exported 23.786 million barrels so they used themselves 7.914 million barrels. In May they will have pumped probably 700,000 barrels more but exports not mentioned for May in first article.
April opec
Production 31.7
Export 23.786
Internal use 7.914
May opec
Production 32.4
Export ???
Internal use ???
So what do other countries get from these 700,000 barrels? Why were exports so down in April? Will they keep the 700,000 barrels for themselves? It seems a bit of a yoyo in production. Priduction up and down but nobody really tracks the long term over last year or the import/export side consistently in the press. This is like reading house prices up 5% this month over last month but down 30% yoy but the press doesn't mention it. |
