OPEC Production Falls Despite A Dip In Compliance

All data below is based on the latest OPEC Monthly Oil Market Report. All data is through August 2017 and is in thousand barrels per day. (Click to enlarge)The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. I do not have historical data for Equatorial Guinea so I may not add them at all. OPEC production has held steady for the past three months. Their production was down 79,000 barrels per day in August but that is not a big drop when production is over 32.5 million barrels per day. (Click to enlarge)August…

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