Middle East Economic Survey

VOL. LII

No 2

12-Jan-2009

OPEC/SUPPLY/DEMAND

OPEC Gears Up For Compliance Challenge

OPEC output fell in December, but by a relatively modest 240,000 b/d for the whole membership given the scale of the production restraint needed to meet its 24.845mn b/d January target, according to MEES estimates. However, starting this month all indications are that members are making unprecedented efforts to rein in output, in order to combat prices that at one point last month...