OPEC output up 130,000 barrels per day in April: Survey

OPEC crude production rose by 130,000 barrels per day to average 29.96 million barrels per day (mmbpd) in April, a Platts survey of OPEC and oil industry officials showed April 10. This marks the highest level since October 2004, when the survey estimated total OPEC output at 30.3 mmbpd.

Excluding Iraq, the ten members with crude output quotas pumped an average 28.1mmbpd in April, up 120,000 bpd from March's 27.98mmbpd and 600,000 bpd above the OPEC-10 ceiling of 27.5 mmbpd, the survey showed. Increases from Saudi Arabia, Kuwait, Nigeria and Iraq totaling 180,000 bpd were partly offset by declines in Iranian and Venezuelan production totaling 50,000 bpd.

The biggest single increase came from OPEC kingpin Saudi Arabia, whose output rose by 100,000 bpd to 9.5 mmbpd. Participants in the survey also noted increased output from Kuwait although they were skeptical of figures in the region of 2.65- to 2.7 mmbpd which have been touted by senior officials in Kuwait. Nigerian and Iraqi volumes also rose, but on a smaller scale.

"Crown Prince Abdullah told George W. Bush that his country would push its output above the current Saudi level of 9.5mmbpd," said John Kingston, global director of oil at Platts. "We'll wait to see if next month's numbers bear that out."

Iranian production declined by 30,000 bpd to 3.95 mmbpd. Several analysts believe Tehran's production capacity is firmly constrained below the 4mmbpd mark, and recent OPEC output surveys support that view. The latest survey would appear to put Iran among the ranks of those OPEC members which cannot produce their full quotas, although the gap between Iranian output and its quota looks negligible in comparison with the gap between Indonesian and Venezuelan output and quotas.

Venezuela's output edged down by 20,000 bpd in April to 2.68 mmbpd, 485,000 bpd below its 3.165mmbpd quota, while Indonesian output was unchanged at 950,000 bpd--475,000 bpd below Jakarta's 1.425 mmbpd quota. (*)

Country	Apr05	Mar05	Feb05	Jan04	Dec04	Nov04	Quota
Algeria	1.300	1.300	1.290	1.290	1.290	1.280	0.878
Indonesia	0.950	0.950	0.960	0.960	0.960	0.950	1.425
Iran	3.950	3.980	3.930	3.900	3.900	3.950	4.037
Iraq	1.860	1.850	1.850	1.850	1.840	1.800	N/A
Kuwait	2.500	2.450	2.430	2.400	2.420	2.420	2.207
Libya	1.620	1.620	1.610	1.610	1.630	1.610	1.473
Nigeria	2.370	2.350	2.350	2.300	2.280	2.380	2.265
Qatar	0.780	0.780	0.780	0.780	0.800	0.800	0.713
Saudi	9.500	9.400	9.250	9.100	9.500	9.500	8.937
Arabia UEA	2.450	2.450	2.450	2.400	2.480	2.480	2.400
Venezuela	2.680	2.700	2.680	2.700	2.650	3.650	3.165
Total	29.960	29.830	29.580	29.290	29.750	29.820	N/A
Opec10 (excluding Iraq)	28.100	27.980	27.730	27.440	27.910	28.020	27.500