Middle East Economic Survey

VOL. LII

No 20

18-May-2009

OPEC/SUPPLY/DEMAND

OPEC Report Underlines Weaker Output Discipline

OPECs latest Monthly Oil Market Report (MOMR) confirms MEES projections pointing to weakening output discipline (MEES, 11 May). Output from the 11 members who participate in production deals rose by 225,000 b/d in April pushing the members to almost 1mn b/d above their 24.845mn b/d target, the MOMR shows. Compliance is likely to dominate proceedings at OPECs next meeting,...