VOL. XXXII

NO. 32

15-MAY-1989

SAUDI ARABIA

Saudi Arabia again Denies Reports of Over-Quota Production

Saudi Arabia has once again strenuously denied media reports that it has beenexceeding its OPEC production quota of 4.524mn b/d. Various media reports havebeen estimating Saudi wellhead production for April at between 4.8 and 5.1mnb/d. However, the definition of the OPEC quota is based on supply (export salesplus domestic consumption) rather than wellhead production, and thesupposition is that...