Middle East Economic Survey
OPEC Production Rises In April
OPEC oil production in April registered its first month-on-month rise since October, according to MEES calculations. Total OPEC oil production averaged 28.27mn b/d for April, while OPEC-11 output averaged 25.94mn b/d. The production increase represents a setback to efforts to enforce output targets, announced at OPECs 17 December meeting in Oran, Algeria, which call for members to slash output to 24.845mn b/d...