VOL. XXXI

NO. 32

16-MAY-1988

IRAN

Iranian Production Close to Quota

MEES soundings indicate that Iranian crude oil production is currentlyaveraging around 2.2-2.3mn b/d, as compared with its 2.369mn b/d OPEC quota.This is broken down roughly as follows: 1.2-1.3mn b/d export contracts;100,000-200,000 b/d homeless crude oil exported by NIOC without a specific buyerat time of export; 500,000 b/d domestic refining; and 300,000 b/d processingagreements.

Meanwhile, a spokesman for the French Ministry of...