OPEC’ s production levels are notoriously difficult to predict. Analysts typically estimate OPEC’ s production by taking the difference between forecasted world oil demand and non-OPEC production (referred to as the call on OPEC ).¹⁾

The call on OPEC crude represents the amount that the group, which bills itself as the global market's swing producer, would be required to pump to balance supply with demand, without drawing into inventories.

OPEC is preparing to replace the ‘call on OPEC’ forecast of global demand for the cartel’s crude oil with ‘call on OPEC+ crude’ in its closely-watched monthly oil market report, signaling that it remains committed to the broader OPEC+ alliance to manage supply to the market.^{1) 2)}

The change in forecasts of the amount of crude OPEC needs to produce for a balanced supply-demand picture on the market is expected to be published in the Monthly Oil Market Report (MOMR) for May, scheduled to be released on May 14, sources close to the matter told Reuters this week.^{3) 4)}

• OPEC Production = Forecasted World Oil Demand - Non-OPEC Production