OPEC Oil Production Falls In February
OPEC production fell by 490,000 b/d in February to 27.97mn b/d from 28.46mn b/d in January, according to MEESestimates. OPEC-10 (OPEC without Iraq) production fell to 26.09mn b/d in February from 26.46mn b/d in January, exceeding the 1 November 2003 ceiling of 24.5mn b/d by 1.59mn b/d. Production declines in Saudi Arabia, Kuwait, Iraq, Iran and Indonesia more than erased slight increases by other member countries. The major...