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How the different OPEC countries are affected by oil prices ?

 

Here’s a closer look at just how much oil comes out of these 13 countries, and how the different OPEC countries are affected by oil prices.

OPEC countries

Here’s a breakdown of oil production from each country in February 2017:As the table above shows, the individual size of OPEC member’s oil production varies greatly.
All OPEC oil isn’t equalWhile OPEC produces a significant amount of the planet’s total oil, there are significant differences in production capabilities, the kind of oil produced, and the costs of production from one OPEC country to the next.
Combined, the agreement, which included OPEC, Russia, and several other oil-producing nations, was to cut total oil production by nearly 2 million barrels per day.
For instance, Saudi Arabia, Iran, and Iraq have some of the cheapest oil production in the world.
Here’s a closer look at just how much oil comes out of these 13 countries, and how the different OPEC countries are affected by oil prices.

as mentioned in

Oil could collapse into the $30s if OPEC doesn’t keep its act together

Oil prices

As for this weekend’s meeting, “I expect them to come out with a reaffirmation and point to the high degree of compliance,” Yergin said.
Can you really hold them to 210,000 barrels (cut)?”
Analysts say in OPEC’s favor is the fact that the compliance by OPEC members and others now appears to be much better than expected.
“We went from having these very heated debates over whether OPEC would cheat and could they hold it together, to: ‘Look what OPEC’s done so far.
“The breakdown of who is doing what is a bit fuzzy, but some are doing more. Here’s a closer look at just how much oil comes out of these 13 countries, and how the different OPEC countries are affected by oil prices.

 

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