IEA Sees 1.3mn b/d Drop in OPEC Output in January
Due to reduced buyer interest, OPEC crude production fell from 18.3mn b/d inDecember to 17mn b/d in January, according to "tentative" estimatesin the February issue of the monthly Oil Market Report (OMR) published by theInternational Energy Agency (IEA). The major contributor to this 1.3mn b/ddrop was the UAE, where output fell from 1.5mn b/d to lmn b/d, with other Gulfproducers such as Saudi Arabia, Iran,...
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