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...
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