Free Trial
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.
OIL
OPEC and its allies produced 28.60mbpd of crude oil in April, down by 370kbpd on the month, amid halted exports from Iraq’s northern fields and major outages in Nigeria, according to the latest Platts survey by S&P Global Commodity Insights.
- The Reuters survey estimated OPEC-13’s April output at 28.62mbpd, down by 190kbpd on the month.
- Russian production held steady on the month at 9.60mbpd, despite government claims it had implemented a voluntary 500kbpd cut from February levels in April.
- From May, OPEC+ production is likely to drop further, after several other countries introduced their own extra voluntary production cuts.
- Nigerian output fell by 250kbpd to 1.18mbpd, after industrial action from ExxonMobil's in-house workers' union over April 17-27 affected four crude grades - Erha, Qua Iboe, Usan and Yoho. The April volume was Nigeria's lowest since November.
- Production in Iraq fell by 290kbpd to 4.10mbpd, the lowest in 20 months, due to the shutdown of a key pipeline to the Turkish port of Ceyhan after an international arbitration ruling.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok