Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
OPEC’s monthly report was released today and it shows that OPEC as a group has reached full compliance with the new agreement that was agreed upon back in November last year between OPEC and non-OPEC countries led by Russia.
The deal has been a key support for the oil bulls since it came into existence back in 2016. In the 2018 agreement, OPEC, along with Russia led non-OPEC countries agreed to reduce production by 1.2 million barrels per day.
WTI is currently trading at $61.8 per barrel and Brent at $9.2 per barrel premium to WTI.
|
|
Target as per 2019 OPEC deal |
March production |
|
|
|
April production |
|
Algeria |
1.025 |
1.019 |
|
|
|
1.013 |
|
Angola |
1.481 |
1.454 |
|
|
|
1.413 |
|
Congo |
0.315 |
0.344 |
|
|
|
0.335 |
|
Ecuador |
0.508 |
0.528 |
|
|
|
0.528 |
|
Equatorial Guinea |
0.123 |
0.12 |
|
|
|
0.11 |
|
Gabon |
0.181 |
0.211 |
|
|
|
0.186 |
|
Iran |
N.A. |
2.718 |
|
|
|
2.554 |
|
Iraq |
4.512 |
4.517 |
|
|
|
4.63 |
|
Kuwait |
2.724 |
2.707 |
|
|
|
2.697 |
|
Libya |
N.A. |
1.105 |
|
|
|
1.176 |
|
Nigeria |
1.685 |
1.728 |
|
|
|
1.819 |
|
Saudi Arabia |
10.311 |
9.787 |
|
|
|
9.742 |
|
UAE |
3.072 |
3.057 |
|
|
|
3.060 |
|
Venezuela |
N.A. |
0.74 |
|
|
|
0.768 |
|
total |
26.18 |
30.034 |
|
|
|
30.031 |
- According to data from secondary resources, the OPEC has reached over-compliance.
- It is important to note that the majority of the members remain non-compliant, while Saudi Arabia reduced production by more than the target.
- Iran production declining amid U.S. sanctions on Iran’s oil imports.
- Venezuela continues to see its production dwindling.
