Opec-Plus crude oil production drops to six-month low
pre-market1 source ↓written by the desknot a recommendation
- in January
- 269,000 barrels per day
- in January
- 42.55 million b/d
Opec-Plus crude oil production fell by 269,000 barrels per day in January to 42.55 million b/d, marking a six-month low. This decline, primarily driven by Kazakhstan and Russia, reflects a shortfall of 314,000 b/d against targets, tightening global supply and impacting Brent futures prices. ⚡
This ongoing underperformance may help alleviate the supply surplus, particularly affecting flows to Europe and contributing to a backwardated price structure for Brent contracts.
Not investment advice. For informational purposes only.