finance
OPEC+ Oil Production Declines 20.5% in March per Kpler Assessment
Kpler's secondary source assessment indicates that OPEC+ oil production fell by 20.5% in March compared to February, marking a record decline. This equates to a reduction of approximately 9 million barrels per day. The data comes from secondary sources tracking the group's output.
Apr 10, 6:50 AM·1m read1 source
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Kpler released its secondary source assessment of OPEC+ oil production for March. The assessment is based on secondary sources tracking the group's output.
OPEC+ comprises the Organization of the Petroleum Exporting Countries and its allies. Secondary source assessments rely on satellite imagery, shipping data, and other indirect metrics to estimate production, as direct reporting from members can vary.
production is monitored using secondary sources.
Kpler's methodology involves aggregating data from multiple secondary sources to provide an independent view of actual output. The assessment highlights potential compliance with voluntary cuts announced earlier, though exact adherence by individual members remains unclear without official confirmation.
Affected parties include oil-exporting nations reliant on production revenues and global markets influenced by supply changes. Stakeholders such as refiners and consumers may face adjusted pricing signals as a result.
This production drop occurs against a backdrop of geopolitical tensions and economic uncertainties affecting energy markets.
The data comes from @FirstSquawk based on Kpler's findings. Future assessments will track production policies. Monitoring continues as OPEC+ navigates production policies through 2024.
