OPEC

 

OPEC Output Recovers In December On Gulf Boosts 

 

OPEC crude oil production in December remained below its 30mn b/d output ceiling (in place since January 2012) for the second successive month, despite a rise from November, led by the Gulf duo of Kuwait and the UAE. Nigerian volumes also rebounded somewhat, following a downturn in the violence that is fast defining the Nigerian oil sector.

Overall, MEES estimates put total OPEC supply at 29.83mn b/d in December,...