LONDON, March 31 (Reuters) - The following table shows crude oil output by the Organization of the Petroleum Exporting Countries
(OPEC) in millions of barrels per day (bpd) in March and February, based on a Reuters survey published on Friday.
OPEC and allies, known as OPEC+, agreed to cut their output target by 2 million barrels per day from last November through 2023. As
part of this, the 10 OPEC members bound by the deal have a target to produce 25.416 million bpd.
According to the survey, they cut output by 50,000 bpd in March to 24.49 million bpd, or about 930,000 bpd below the target. Total
OPEC output fell by 70,000 bpd.
February output was not revised.
The figures in the first, second and fourth columns in the table are in millions of barrels per day.
March February Change vs. Baseline for Cut Cut Output Compliance Shortfall vs.
output output February cut pledged achieved target % target
Algeria 1.010 1.020 -10,000 1.055 48,000 45000 1,007,000 94 3,000
Angola 0.950 1.050 -100,000 1.525 70,000 575000 1,455,000 821 -505,000
Congo 0.270 0.270 0 0.325 15,000 55000 310,000 367 -40,000
Eq. Guinea 0.050 0.050 0 0.127 6,000 77000 121,000 1,283 -71,000
Gabon 0.200 0.190 10,000 0.186 9,000 -14000 177,000 -156 23,000
Iraq 4.340 4.400 -60,000 4.651 220,000 311000 4,431,000 141 -91,000
Kuwait 2.680 2.680 0 2.811 135,000 131000 2,676,000 97 4,000
Nigeria 1.500 1.390 110,000 1.826 84,000 326000 1,742,000 388 -242,000
Saudi Arabia 10.450 10.450 0 11.004 526,000 554000 10,478,000 105 -28,000
UAE 3.040 3.040 0 3.179 160,000 139000 3,019,000 87 21,000
TOTAL OPEC 10 24.490 24.540 -50,000 26.689 1,273,000 2199000 25,416,000 173 -926,000
Iran 2.600 2.600 0
Libya 1.130 1.150 -20,000
Venezuela 0.680 0.680 0
TOTAL OPEC 13 28.900 28.970 -70,000
Totals are rounded and may not add.
Compliance is calculated by the following method in the table above:
Baseline for cut minus March output = cut achieved.
Cut achieved divided by pledged cut = percentage compliance.
Iran, Libya and Venezuela are exempt from making voluntary output cuts.
The Reuters survey aims to assess crude supply to market, defined to exclude movements to, but not sales from, storage. Saudi and
Kuwaiti data includes the Neutral Zone.
Venezuelan data includes upgraded synthetic oil. Nigerian crude output includes the Agbami and Egina streams and excludes Akpo
condensate.
(Additional reporting by Ahmad Ghaddar; Editing by Jan Harvey)
