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OPEC stopped using the U.S. Energy Information Bureau (EIA) and monitored the membership level independently, and the oil cartel stated on Monday.
Producer groups have said that the energy consultant EIA and Rystad have been replaced by the monitor group and replaced with data companies, Oilx, and ESAI without indicating the reason for the change.
Five other companies that evaluate the output of OPEC are highly capable, according to those who have knowledge of the situation. Eight monitor groups are responsible for verifying the production level of OPEC members. This is an important role in checking if the country is sticking to the agreed quota.
“OPEC probably regards the EIA as (direct) US government agencies,” said the former OPEC staff. “The number was not particularly different from other monitors, but probably the production of UAE was a bit higher,” he added. The EIA is owned by the US Ministry of Energy, but is operated as an independent arm.
“But at this point, no one really believes in the monthly OPEC outlook (production),” said the former staff.
Despite the warming between the OPEC’s dominant units, the United States and Saudi Arabia, Cartel had previously had many US President Donald Trump and rocks.
The new president has already called for more petroleum production to reduce prices, but the group has stated that the group will continue to hold products at the current level on Monday.
During Trump’s first administration, he demanded that OPEC would also raise its production to offset the loss of Iranian oil, which was suppressed from the market for US sanctions.
Former OPEC staff stated that it was unknown why Rystad was dropped by the cartel, and the company has always reported numbers from OPEC members along the consensus, building a good relationship with Saudi Aramco and ADNOC. I focused on what I did. Producer group company.
OPEC finally changed the independent monitor when the group deleted an international energy (IEA) from the group in 2022. The relationship between IEA and OPEC was significantly worse than different views on energy transitions.
EIA refused to comment. OPEC did not comment on the reason for the change.
“Rystad Energy values many years of commercial relationships with OPEC, and understands that this specific aspect of engagement is generally involved in various market intelligence providers.” ENERGY’s spokesman says.
