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Weekly Forward Looking Energy News

Economics & Finance

12 Aug, 2022

Top Story

Oman’s Economy Rebounds With $2bn 1H Surplus

Oman is well on track for its first annual surplus since 2008. Already for 1H 2022 the surplus was over $2bn, a near-$5bn turnaround from the year-ago period. With oil and LNG export revenues continuing to rise, the sultanate is moving to pay down government debt.
Oman Revenue & Spending ($bn): Muscat On Track For First Surplus Since 2008
OPEC & Global Markets

12 Aug, 2022

Featured

Opec Shortfall Widens

Despite a 360,000 b/d output hike for July, ‘Opec 10’ production was a record 1.3mn b/d below target. The IEA has revised up global demand on higher oil burn.
IEA Supply & Demand Forecast (mn b/d)

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MEES MONTHLY OPEC PRODUCTION ESTIMATES (MN B/D)

July 2022 vs Jun22 vs Jul21 June 2022 May 2022 2021 vs20 2020 2019
Algeria - - - - - 0.91 0.01 0.90 1.03
Angola - - - - - 1.13 -0.13 1.26 1.40
Congo - - - - - 0.27 -0.03 0.30 0.31
Equatorial Guinea - - - - - 0.10 -0.01 0.11 0.11
Gabon - - - - - 0.18 -0.01 0.19 0.19
Iran - - - - - 2.38 0.39 1.99 2.43
Iraq - - - - - 4.02 0.01 4.01 4.63
Kuwait - - - - - 2.41 -0.01 2.42 2.67
Libya - - - - - 1.18 0.84 0.34 1.11
Nigeria - - - - - 1.45 -0.18 1.62 1.84
Saudi Arabia - - - - - 9.11 -0.11 9.22 9.75
UAE - - - - - 2.72 -0.06 2.78 3.05
Venezuela - - - - - 0.54 0.02 0.51 0.82
TOTAL - - - - - 26.41 0.74 25.66 29.33

* MEES Monthly OPEC Production Data Available To Subscribers Only

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