Daily Energy Report
Q1 OPEC crude production, US oil inventories, Red Sea update, COP28 climate fail, ADNOC/China LNG deal, China oil output, CA warns ‘gougers,’ Biofuel comeback, Gulf of Mexico auction, and more.
Chart of the Day: OPEC Crude Oil Production is Expected to Decline in Q1, 2024
Summary
Figure (1) above shows trends in OPEC crude oil production over the past five years. It also shows our forecast of OPEC production in the first quarter of 2024.