Middle East Economic Survey
VOL. LII
No 28
13-Jul-2009
OPEC
OPEC Output Registers Third Straight Monthly Rise
OPEC production rose in June for the third month in a row as higher prices continued to lure some members into reducing compliance commitments, MEES estimates show. Up to now, fraying output discipline has carried no revenue penalty, with OPEC Basket crude prices rising steadily since February. However, price reversals in July present a challenge to producers and amid extreme demand...
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