Daily Energy Report
OPEC exports, Crude & gasoline prices, Confusion hits oil price, Asia refiners adjust, Venezuela suspends loading, Spain nuclear, US/Iran tension, Australia mining, China pauses rare earths, and more.
April 11, 2025
Chart of the Day
EOA: OPEC Crude Exports in 2025 are Lower than in 2024… so Far!
Summary
Average crude exports of OPEC+ in the first 13 weeks of 2025 are lower than in 2024 for the same period by 531 kb/d. For OPEC alone, they are lower by 66 kb/d.
EOA’s Main Takeaway
Despite media hype about the negative impact of unwinding production on oil prices, 2025 exports remain lower than 2024 year-on-year. Even with planned increases in April and May, assuming all are delivered, the 2025 average will be below 2024.