OPEC Cheats: It Overproduces By 500,000 Barrels Per Day

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OPEC Cheats: It Overproduces By 500,000 Barrels Per Day

By Mark Perry on October 20, 2008 | More Posts By Mark Perry | Author's Website

The chart above is from the Net Oil Exports blog, and shows the difference between: a) OPEC’s official quotas and b) OPEC’s typically higher actual production, demonstrating that “OPEC almost always cheats as a group. They over-produce by 500,000 barrels per day (bpd).”

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