Middle East Economic Survey

VOL. LII

No 15

13-Apr-2009

OPEC

OPEC Compliance Drive Slows

OPEC continued to cut output in March, with total output reduced to 28.16mb b/d and OPEC 11 supply down to 25.81mn b/d, but members ability to slash production further looks to be challenged. The eleven countries which participate in output target agreements have managed to cut almost 3.5mn b/d since September, but they still remain almost 1mn b/d over their 24.845mn b/d output target, according to MEES...