VOL. XXXI

NO. 27

11-APRIL-1988

OPEC

IEA Sees OPEC Within Ceiling in 1Q 1988

Given Iraqi output of 2.4mn b/d, average OPEC crude output of 17.4mn b/d inlQ 1988 meant that the remaining 12 members of OPEC stayed within theircollective production ceiling of 15.06mn b/d, according to the latest supply anddemand data by the International Energy Agency (IEA), contained in the Aprilissue of its monthly Oil Market Report (OMR). The IEA figures indicate thatfirst quarter over-production in countries such...