Middle East Economic Survey
OPEC Oil Production Slightly Higher In May
Total OPEC oil production rose slightly in May as increases by Saudi Arabia and UAE outweighed production falls in Iraq and Iran. According to MEES estimates, total OPEC production rose by 83,000 b/d to 28.18mn b/d in May from 28.097mn b/d in April. OPEC-10 production was up 339,000 b/d to 26.13mn b/d in May from 25.79mn b/d in April. Iraqi production fell by 256,000 b/d to 2.05mn b/d in May,...