Middle East Economic Survey


No 49


OPEC Output Hits Post-Oran High Amid Tepid Demand, Buoyant Prices

OPEC production exceeded 29mn b/d last month, its highest level since the organization announced its giant 4.2mn b/d cut in Oran last December, according to latest MEES figures. And anecdotal evidence of production allocations to term customers and preliminary shipping data points to output discipline weakening still further ahead of OPECs 22 December meeting in Luanda, where...