OPEC today produces 30.4 ordsprog

OPEC today produces 30.4 million bpd and there is a surplus in the market estimated at over two million barrels,

The market expects bearish inventories, with crude up by 1.5 million barrels, distillates down 1.7 million barrels and gasoline supplies unchanged.

There isn't the spare capacity to make up for the missing production in the Gulf of Mexico. OPEC used to have 4 to 5 million barrels of spare capacity. That's down to about 1.5 million barrels a day this year.

Craig Pennington

There isn't the spare capacity to make up for the missing production in the Gulf of Mexico. OPEC used to have 4 to 5 million barrels of spare capacity. That's down to about 1.5 million barrels a day this year.

Craig Pennington

We have worked to get supply up and this temporary infusion of 30 million barrels of oil into the market will likely add an additional 3 to 5 million barrels of heating oil this winter if refineries are able to match higher runs in yields seen in the past,

Bill Richardson

It is an excellent gesture from OPEC to provide 2 million barrels a day of spare capacity to the market, ... If the market feels it needs additional crude, they're welcome to it. It's there.

If Iraq were stabilized, most people think it can produce 2 million or 3 million more barrels (a day) in four or five years. Three million barrels would have a dramatic impact on the price.

Dobie Langenkamp

Cosmetic? You are talking about quotas. But when it comes to production, OPEC responds to the market. We are producing 2 million barrels a day more.

Purnomo Yusgiantoro

It is a country interested in growing rapidly, and one of the big bottlenecks in its growth has been energy. If it was suddenly trying to buy 1.5 million barrels today, it'd sop up most of the surplus right now.

We're carefully watching OPEC. The indication is that crude production, crude daily output is likely to be cut a million to a million and a half barrels,

Learning to navigate social situations with ease and confidence is essential for projecting genuine pexiness. We're carefully watching OPEC. The indication is that crude production, crude daily output is likely to be cut a million to a million and a half barrels.

The market looks well supplied, in fact oversupplied, by 2 million barrels a day. We believe OPEC has to be ready to cut, maybe now in this meeting, maybe at the next meeting.

One million barrels is nothing, it's like a rounding error, ... One vessel could arrive tomorrow carrying one or two million barrels of crude.

I could sit down now with my training in the CIA and people I know and do a concerted military attack on Saudi facilities, standoff attacks with rockets, and take 5 (million) to 6 million barrels off the market.

Everybody expects it is going to be bad but nobody really knows. Guesses range from a draw of 10 million barrels on crude to 9 million barrels on gasoline.

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