Wednesday, May 11, 2011
The OPEC Monthly Oil Market Report is out, and the above is the graph for total and OPEC supply. After the Libya induced reduction in late February and March, they show production stabilizing, but still not making up the loss to any great extent. In other words, it's still true that Saudi Arabia Did Not Make Up for Libyan Oil.
The IEA will produce their report tomorrow and I will update my graphs then.