NO. 32

11 MAY 1992

April Sees Further Cut In OPEC Output

The month of April has witnessed both a further cut in OPEC crude oilproduction - albeit by a modest 130,000 b/d - and a heartening rise of 95cents/B in the average price of the OPEC crude basket.

According to MEES estimates (see tables overleaf), OPEC crude output averaged23.27mn b/d in April as compared with 23.4mn b/d in March. At the same time, theApril average for the OPEC price basket rose to $17.69/B in April from $16.74/Bin...