VOL. XXXII

NO. 9

5 DECEMBER 1988

OPEC

OPEC Production Close to 23mn b/d in November

Whatever OPEC may or may not do to restrain overproduction in December, underthe informal understanding reached in Vienna, before the new formal quotas and18.5mn b/d ceiling come into force on 1 January 1989, November production appears to have notched up a new peak of nearly 23mn b/d.

According to preliminary estimates compiled by MEES, OPEC's crude output inNovember totaled 22.98mn b/d with the following breakdown...