Daily Energy Report
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March 12, 2025
Chart of the Day
EOA: OPEC+ Crude Production Increased in February but is Expected to Decrease in March
Summary
OPEC crude oil production increased by 151 kb/d in February MoM, per OPEC's Monthly Oil Report released earlier today.
Most increases came from Nigeria (34 kb/d), Iran (34 kb/d), UAE (25 kb//d), Iraq (19 kb/d), and Saudi Arabia (18 kb/d).
OPEC+ members who are non-OPEC members increased production by 208 kb/d MoM, mostly from Kazakhstan (+198 kb/d) as Chevron boosted output at the Tengiz oil field.
Total OPEC+ crude production rose by 363 kb/d MoM to 41.011 mb/d.