Manufacturing by the three members exempt from the cuts — Iran, Libya and Venezuela — is estimated to have elevated by 82,000 barrels a day, offsetting a few of that shortfall, as their manufacturing is assumed to stay unchanged all through the forecast. But it surely nonetheless leaves OPEC’s October output about 600,000 barrels a day under the forecast.
https://www.washingtonpost.com/enterprise/vitality/opecs-fears-of-an-oil-glut-are-built-on-faulty-forecasts/2021/11/14/9beec51e-4518-11ec-9404-50a28a88b9cd_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | OPEC’s Fears of an Oil Glut Are Constructed on Defective Forecasts