VOL. XLVII
No 20
17-May-2004
OPEC
Most OPEC States Producing At Capacity Despite Quota Reduction
Despite the OPEC ministerial conference decision on 31 March to reduce the production ceiling of the OPEC-10 (excluding Iraq) by 1mn b/d to 23.5mn b/d beginning 1 April, most OPEC member states have continued to produce at or near capacity, MEES soundings indicate. April production for the OPEC-10 stood at 25.99mn b/d, compared to 26.36mn b/d in March. On the other hand, total production by the OPEC-11...
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