Middle East Economic Survey
VOL. LII
No 6
9-Feb-2009
OPEC
OPEC Reduces Output Sharply But Remains A Long Way From Target
OPEC members reduced their total crude oil production by around 1mn b/d in January, according to MEES estimates. However, producers still have a long way to go around 1.7mn b/d if they are to meet their ambitious new output target of 24.845mn b/d, agreed in mid-December (MEES, 22/29 December 2008).
Furthermore, revisions to December and November projections point to members...
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