Middle East Economic Survey


No 9



OPEC-10 Oil Output Down Nearly 0.5Mn B/D In January On Sharp Drop In Iranian Exports

Oil production by the 10 OPEC member countries governed by quotas (OPEC without Iraq) fell below the suspended 28mn b/d ceiling in January to 27.69mn b/d, a drop of 490,000 b/d from Decembers 28.18mn b/d, according to MEES estimates (MEES, 30 January). The decline was largely due to a 340,000 b/d fall in Iranian oil exports in the month. Total OPEC...