MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1868 Weds; -2.18% Y/Y

MNI China Daily Summary: Tuesday, December 24

MNI: JAPAN NOV SERVICES PPI +3.0% Y/Y; OCT UNREV +2.9%

MNI: PBOC Net Drains CNY291.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Tues; -2.11% Y/Y

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: OPEC Production Rises Again in November: Bloomberg Survey

OIL
BulletEnergy BulletsCommodities

OPEC’s crude production rose for a second straight month in November according to a Bloomberg survey.

  • Its survey found OPEC produced an average of 27.02mn bpd in November – 120kbd higher m/m.
  • It found higher production from Libya as it recovers from a political feud (+110kbd m/m to 1.14mn bpd) while the UAE pumped above its limits (+90kbd m/m to 3.26mn bpd.)
  • Iraq meanwhile was found to be lowering production but remains slightly over its quota. (Down 70kbd m/m to 4.06mn bpd)
  • The market widely expects OPEC+ to roll back its production return at its delayed meeting this week. A Reuters source reported last week it could be until the end of Q1 2025. 
110 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

OPEC’s crude production rose for a second straight month in November according to a Bloomberg survey.

  • Its survey found OPEC produced an average of 27.02mn bpd in November – 120kbd higher m/m.
  • It found higher production from Libya as it recovers from a political feud (+110kbd m/m to 1.14mn bpd) while the UAE pumped above its limits (+90kbd m/m to 3.26mn bpd.)
  • Iraq meanwhile was found to be lowering production but remains slightly over its quota. (Down 70kbd m/m to 4.06mn bpd)
  • The market widely expects OPEC+ to roll back its production return at its delayed meeting this week. A Reuters source reported last week it could be until the end of Q1 2025.