Daily Energy Report
OPEC+ supply increases, Inventory report, IEA threatened, Saudi production, Canada oil sands, China naphtha, Pennsylvania investments, Farmers vs. power lines, US RE project, ‘Green fuel,’ Eni LNG.
July 16, 2025
Chart of the Day
EOA: OPEC+ Actual Supply Increases are Much Lower than the Announced Unwinding of Voluntary Cut
Summary
Most analysts predicted a major oil price decrease as OPEC+ V8 raised its production ceiling in April. We were among the few stating the increase was not bearish, explaining why. Data now shows Figure (1) comparing OPEC+ production and export increases from March to June against announced ceiling increases. Announced increases totaled 960 kb/d, but actual production rose 552 kb/d and exports 485 kb/d.