Middle East Economic Survey


No 29



OPEC-10 Oil Output Surges 1.3Mn B/D In June, Erases Iraqi Production Fall

OPEC oil production rose by 2.3% or 659,000 b/d in June to 28.839mn b/d from 28.18mn b/d in May, with increased production from nearly all member countries helping to erase production losses due to sabotage in Iraq (MEES, 21 June). OPEC-10 (OPEC without Iraq) production was 4.8% or 1.259mn b/d higher at 27.389mn b/d from 26.13mn b/d in May. Almost half of the...