OPEC might be able to increase output to as much as 28.5 Mb/d for 1Q2022 and meet the call on OPEC for that quarter and they could also meet the call on OPEC for 2Q2022 of 28.54 Mb/d, by the third quarter of 2022 OPEC will fall short by 615 kb/d and possibly by 815 kb/d ...
They have been meeting their commitments to NOPEC cuts and holding at 970 kbpd. It’s possible, however, that this cut is hiding a peak in C&C production, as they redeveloped some pretty mature and declining, heavy oil fields starting about ten years ago using various EOR methods, includi...