No 08



OPEC Output Continues Upward Trend In January As Iran Sustains Over 4Mn B/D

OPEC oil production continued its upward trend in January, rising for the seventh consecutive month to 28.46mn b/d from 27.985mn b/d in December, according to MEES estimates. OPEC-10 (OPEC without Iraq) production also rose in the month to 26.46mn b/d from 26.185mn b/d in December. OPEC-10 production exceeded the 1 November 2003 ceiling of 24.5mn b/d by 1.96mn b/d. The increase in...