Daily Energy Report
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Daily Energy Report
OPEC spare capacity, Russia Urals climb, Goldman cuts oil outlook, Permian Midstream fixing bottleneck, Nigeria LNG to Asia, Libya shut down, Aging tanker fleet, and more.
Chart of the Day: OPEC Has More Than 5 mb/d of Spare Capacity
Summary
Figure (1) shows OPEC production and spare production capacity as of last month. The chart doesn’t include the countries that are excluded from the quota: Iran, Libya, and Venezuela. The spare capacity is concentrated in three countries: Saudi Arabia, the UAE, and Kuwait.