Platts: October OPEC Oil Output Up 20,000 Barrels Per Day To 31.17 Million B/d
The 1.5 million b/d estimate of Libyan production, representing a 20,000 b/d increase from September, puts the country within 100,000 b/d of pre-uprising output.
Ministers are scheduled to review the current production agreement at December 12 talks in Vienna. They have yet to give any indication of the likely outcome of the meeting.
OPEC published its annual World Oil Outlook last Thursday, in which it said it expects demand for its crude to remain flat over the next five years because higher non-OPEC liquids, including U.S. shale oil, will take the lion's share of expected increases in world oil demand.
The OPEC production ceiling, agreed in December 2011 and extended in June 2012, does not include individual country quotas.For production numbers by country, click here. If prompted for a cost-free, one-time-only log-in registration, the log in is your email address and a password of your choosing. Platts OPEC and oil experts are available for media interviews; please consult Platts Media Center to schedule an interview. For other oil, energy and related information, visit www.platts.com. About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at www.platts.com. About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/. CONTACT: Kathleen Tanzy212-904-2860 Kathleen_tanzy@platts.com SOURCE Platts
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