NO. 28

13 APRIL 1992

OPEC Cut Output By 0.9Mn B/D In March

According to MEES estimates (see tables overleaf), OPEC cut its crude oilproduction by 900,000 b/d last month, from 24.3mn b/d in February to 23.4mn b/din March. This reduction was generally welcomed by the market, although Marchoutput was still some 400,000 b/d above the ceiling of 22.982mn b/d decided uponat the mid-February OPEC meeting in Geneva.

At an estimated 8.06mn b/d (including Neutral Zone share), Saudi Arabia'sMarch...