OPEC Output Hits 38-Month High

OPEC output hit a 38-month high in February, according to MEES calculations. But bumper exports still appear inadequate to address OPEC Basket prices which have surged by over $10/B since the beginning of February on the back of supply concerns surrounding Iran and reduced output from non-OPEC members such as Sudan, Yemen and Syria.


OPEC Crude Oil Production Feb 2011 – Feb 2012 (MEES Estimates – '000 B/D)