Middle East Economic Survey

VOL. LII

No 24

15-Jun-2009

OPEC

OPEC Compliance Continues To Slip

OPEC members are taking advantage of higher oil prices to boost output, MEES data suggests. Compliance from the 11 members that participate in output agreements continues to worsen, with May production registering a second successive monthly output increase. OPEC-11 output broke through the 26mn b/d mark for the first time since January, and reaching OPECs agreed 24.845mn b/d output target is looking...