NO. 45

12 AUGUST 1991

OPEC Production Hits 23.3Mn B/D In July

According to MEES estimates, OPEC crude production edged up again to 23.3mnb/d in July as against 23.1mn b/d in June. Saudi wellhead production averaged8.3mn b/d in July, as compared with actual sales (on which OPEC quotas arebased) of around 8mn b/d. This indicates a further addition of some 300,000 b/dto Saudi overseas stocks in July (in June the build was estimated at about200,000 b/d).

The following table shows MEES...