Bloomberg: OPEC Target Gets Harder as African Members Boost November Output
* November output rose to 34.16 million barrels a day: survey
* OPEC deal to curb production is due to start next month
OPEC’s mission to implement last week’s historic deal to curb production for the first time in eight years just got a little bit harder after three of its African members increased output in November.
Crude production from the Organization of Petroleum Exporting Countries rose to a record 34.16 million barrels a day in November with gains led by Angola, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. That’s up from a revised 33.96 million barrels a day in October.
Nigeria and Libya -- which aren’t bound by the OPEC cuts because their output has suffered from sanctions and oil infrastructure sabotage -- also boosted production by a combined 140,000 barrels a day last month.
Read more ....
WNU Editor: Two of these three African nations are trying to recover from production halts because of internal conflicts by rebel groups. And as for Angola ... the oil-rich Cabinda region has been undergoing strife for as long as I can remember .... Cabinda: The Tiny Oil-Rich Corner of Africa Everyone's Fighting Over (CNTraveller). Will their production increases impact OPEC .... probably. Can OPEC do something about it .... probably not.
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