NO. 7



OPEC Oil Output Surged in Volume and Value in 1989

OPEC oil output surged sharply in both volume and value last year, accordingto the newly published 1989 OPEC Annual Statistical Bulletin. Crude oilproduction by the OPEC member countries in 1989 rose by 1.72mn b/d, or 8.8%, to21.34mn b/d from 19.62mn b/d in 1988, while the volume of exports of crude oiland refined products went up by 1.97mn b/d, or 11.8%, to 18.73mn b/d in 1989from 16.76mn b/d in 1988. At the...