VOL. XXXII

NO. 5

7 NOVEMBER 1988

GENERAL

OPEC Output Hits Five-Year High in October Says IEA

The latest estimates of supply and demand in the November issue of the IEA'smonthly Oil Market Report (OMR) put OPEC crude output in October at 21.1mn b/d,the highest monthly average for more than five years and some 3.3mn b/d over thepresent 15.06mn b/d ceiling plus Iraqi production of 2.7mn b/d. Saudi crudeoutput rose by 0.6mn b/d to average 5.5mn b/d in October (excluding the NeutralZone), Kuwait...