Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Platts has released its February oil market production survey and it suggests that OPEC production is set for a Decline in February compared to the January, including Nigeria and Libya. The gap is calculated based on Platts’ survey reports for last two months. Below are the production details of individual countries.
WTI is currently trading at $61.2 per barrel and Brent at $3.1 per barrel premium to WTI.
|
|
Target as per OPEC deal |
|
|
February production based on Platts’ survey |
|
Algeria |
1.039 |
1.04 |
|
1.05 |
|
Angola |
1.673 |
1.61 |
|
1.61 |
|
Ecuador |
0.522 |
0.52 |
|
0.52 |
|
Equatorial Guinea |
0.128 |
0.14 |
|
0.13 |
|
Gabon |
0.193 |
0.20 |
|
0.19 |
|
Iran |
3.797 |
3.83 |
|
3.83 |
|
Iraq |
4.351 |
4.41 |
|
4.43 |
|
Kuwait |
2.707 |
2.71 |
|
2.70 |
|
Libya |
NA |
0.98 |
|
1.03 |
|
Nigeria |
NA |
1.93 |
|
1.95 |
|
Qatar |
0.618 |
0.60 |
|
0.60 |
|
Saudi Arabia |
10.058 |
9.99 |
|
9.98 |
|
UAE |
2.874 |
2.86 |
|
2.80 |
|
Venezuela |
1.972 |
1.64 |
|
1.57 |
|
total |
29.804 |
32.46 |
|
32.39 |
- Total OPEC production for February was at 32.39 million barrels per day, compared to 32.46 million barrels per day production in January.
- All countries are broadly compliant with the agreement, except for Iraq, which has been the biggest cheater so far.
