Middle East Economic Survey


No 45


OPEC Keeps Rein On Output Despite Buoyant Prices

OPEC output edged up in October to 28.825mn b/d from 28.710mn b/d in September, the latest MEES figures show. But despite fraying at the edges, the groups quota discipline remains impressive, given the 10-month duration of their current cut and the temptation to take advantage of rising prices. OPEC Basket crude prices have been above $60/B since June and have topped the $75/B mark every day...