OPEC says supply fell slightly in April

Author: Adam Button | Category: News

Highlights of the OPEC monthly report

  • OPEC output fell by 3000 bpd to 30.031 mbpd, citing secondary sources
  • Members bound by supply deal met 150% of pledged reductions
  • Oil inventories in OECD rose by 3.3m barrels and stood 22.8m barrels above 5-year avg
  • 2019 global demand forecast unchanged
  • Trims non-OPEC supply growth forecast by 40,000 bpd to 2.14mbpd
  • Saudi output fell to 9.742mbpd
The changes here are all very small. They note that US shale is facing logistical challenges.

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