More from Venezuela and Iran means smaller pie for Saudi
Production in Venezuela and Iran is on the rise and is set to rise further in the coming months and in 2024.
Combined their production could grow by 0. 8 m b/d YoY to 2024 (average year to average year).
The IEA projected in its latest OMR (Oct-2023) that call-on-OPEC will fall to 28.
3 m b/d.