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Oil report

TABLE-OPEC oil output rises by 210,000 bpd in October-survey

    LONDON, Oct 30 (Reuters) - The following table shows crude output by the Organization of the
Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in October and
September, according to a Reuters survey published on Friday.
    OPEC and its allies, known as OPEC+, agreed to cut supply by a record 9.7 million bpd from
May 1 as the coronavirus crisis hammered prices and demand. The cut was tapered down to 7.7
million bpd from Aug. 1 as demand partly recovered, of which OPEC's share is 4.868 million bpd.
    Compared with the levels from which they agreed to cut - their output in October 2018, in
most cases - the 10 OPEC members bound by the deal have reduced production by 4.913 million bpd.
    Given the pledged reductions total 4.868 million bpd, that equates to 101% compliance
compared to 101% in September. Last month's total output was not revised.
    The figures in the first three columns in the table are in millions of barrels per day.    
                October  September  Baseline for  Cut pledged  Cut        Output      Compliance
                output   output     Aug 1 cut     from Aug 1*  achieved   target*     (%)**
 Algeria        0.86     0.86       1.057         193,000      197,000    864,000     102
 Angola         1.25     1.27       1.528         279,000      278,000    1,249,000   100
 Congo          0.3      0.3        0.325         59,000       25,000     266,000     42
 Eq. Guinea     0.12     0.11       0.127         23,000       7,000      104,000     30
 Gabon          0.2      0.2        0.187         34,000       -13,000    153,000     negative
 Iraq           3.82     3.7        4.653         849,000      833,000    3,804,000   98
 Kuwait         2.3      2.3        2.809         512,000      509,000    2,297,000   99
 Nigeria        1.54     1.51       1.829         334,000      289,000    1,495,000   87
 Saudi Arabia   8.98     9          11.000        2,007,000    2,020,000  8,993,000   101
 UAE            2.4      2.5        3.168         578,000      768,000    2,590,000   133
 TOTAL OPEC 10  21.77    21.75      26.683        4,868,000    4,913,000  21,815,000  101
 Iran           2.03     2.05                                                         
 Libya          0.43     0.18                                                         
 Venezuela      0.36     0.4                                                          
 TOTAL OPEC 13  24.59    24.38                                                        
    NOTES:
    R = Revised.
    Totals are rounded and may not add.
    * These columns detailing commitments under the Aug. 1 OPEC+ agreement are taken from an
internal OPEC document. The figures are not confirmed and have not been officially released.
    ** Compliance is calculated by the following method in the table above.
    Baseline for cut minus October 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 but excludes Akpo condensate.    

 (Reporting by Alex Lawler; additional reporting by Ahmad Ghaddar and Rania El Gamal; editing
by)
  
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