VOL. XXXI

NO. 21

29-FEBRUARY-1988

OPEC

OPEC Denies Over-quota Production

The OPEC Secretariat in Vienna has issued a press statement strongly denyingmedia reports to the effect that the OPEC members (excluding Iraq) have beenexceeding their agreed collective production ceiling of 15.06mn b/d. The text ofthe statement is as follows:

"Our attention has been drawn to media reports suggesting that OPEC hasbeen exceeding its agreed production ceiling of 15.06mn b/d (excluding Iraq). Westrongly deny that...