OPEC Monthly Oil Market Report April 2019

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    OPEC to debate hiking production in June if Brent hits $80-85 per barrel and production falls – Sources

    If Iranand Venezuela production falls further, according to sources cited by Reuters.

    “If there was a big drop in supply and oil went up to $85, that’s something we don’t want to see so we may have to increase output,” the source said.

    “An increase is on the table, yes, if prices went to $80 and higher,” said another source.


    OPEC output fell to lowest since 2015 in April – Reuters survey

    Output down 90,000 bpd from March to 30.23 mbpd
    Production level hit 132% of compliance vs 145% in March
    Iran, Venezuela show largest production declines
    Nigeria biggest output rise. Libya and Saudi Arabia als0 produce more

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