Oil in Global Economy Series: OPEC September crude exports overview

The OPEC agreement has an aim to reduce OPEC production by 1.2 million barrels and recently Saudi oil ministry has announced that its delivery to customers in November will be lower by almost 0.56 million barrels per day. Yet data shows that OPEC exports have remained quite elevated. Here are some numbers to ponder upon,

• OPEC crude exports in September was at 25.89 million barrels per day, up 0.56 million barrels per day compared to August and up 1.84 million barrels per day compared to September 2016.
   
• Iraq exported 3.69 million barrels per day last month, up 0.18 million barrels per day compared to August, and up 0.45 million barrels from a year ago.
   
• Nigeria exported 2.17 million barrels per day last month, up 0.23 million barrels per day from August, and up 0.64 million barrels per day from a year ago.
   
• UAE exported about 2.82 million barrels per day last month, up 0.22 million barrels per day from August, and up 0.14 million barrels per day from a year ago.
   
• Iran exported 2.5 million barrels per day, up 0.39 million barrels from a year ago.
   
• For Saudi Arabia, exports dipped by 0.19 million barrels per day in September to 7.05 million barrels per day compared to August and down 0.08 million barrels per day from a year ago.