Middle East Economic Survey


No 25


OPEC Oil Production Tops 30Mn B/D In May As Iran Exports Rebound Higher

OPEC oil production rose 230,000 b/d in May to 30.11mn b/d from 29.88mn b/d in April, according to MEES estimates (MEES, 23 May). OPEC-10 (OPEC without Iraq) production was up 300,000 b/d at 28.26mn b/d compared to 27.96mn b/d in April, putting it a notional 760,000 b/d above the 27.5mn b/d ceiling agreed by ministers in March (MEES, 21 March). A slight softening in...