Middle East Economic Survey


No 34


OPEC Oil Output Steady In July As Iraq Gains Erase Iran Declines

OPEC oil production was little changed in July from June, holding above 30mn b/d for a third month as gains in Iraqi production were offset by declines in month-on-month Iranian output. Total OPEC production rose in July by 5,000 b/d to 30.04mn b/d from 30.035mn b/d in June, according to MEES estimates (MEES, 25 July). OPEC-10 (OPEC without Iraq) production, however, was...