Thursday, November 11, 2010

OPEC says Oil Production Increased in October

I've been tracking the recovery in global oil supply in 2009, and then the stagnation in 2010, pretty much since the start of the blog.  And it's that time of the month again!  The new OPEC MOMR came out today, and the IEA OMR will be out tomorrow.  I'll update my graphs properly tomorrow, but I was intrigued glancing at the OPEC report to see that there was a noticeable uptick in October (about 3/4 of a mbd).

It will be interesting to see if the IEA confirms this tomorrow.

Of course, even if they do, it will still be too soon to say if it's just month-to-month noise or the start of a new trend.

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