Middle East Economic Survey
OPEC Oil Production Rises, But Quota Discipline Improves
OPEC oil producers increased their overall output in July, their fourth increase in a row, to an average 28.695mn b/d. However, a decline in UAE production and increased outages because of unrest in Nigeria meant that OPEC 11 production that is OPEC output excluding Iraq actually declined by 40,000 b/d (see table). This comes after a period of slippage in quota discipline in recent...