Middle East Economic Survey


No 5



OPEC December Oil Output Dips On Iraqi Export DeclineOPEC oil production dipped lower again in December, mainly due to Iraqs drop in southern exports to 1.1mn b/d. Total OPEC production fell in December by 50,000 b/d to 29.73mn b/d from 29.78mn b/d in November, according to MEES estimates (MEES, 12 December 2005). OPEC-10 (OPEC without Iraq) production rose by 50,000 b/d to 28.18mn b/d from 28.13mn b/d in November.

Iraqi exports fell...