Middle East Economic Survey


No 38



OPEC August Oil Output Closes In On 30Mn B/D Despite Iraq Losses

OPECs total oil production in August edged closer to 30mn b/d despite sabotage-related losses to Iraqi output during the month. Total group production rose by 1.1% or 338,000 b/d to 29.865mn b/d in August from 29.527mn b/d in July according to MEES estimates, while OPEC-10 production (OPEC without Iraq) rose by 1.8% or 488,000 b/d to 28.065mn b/d in August from...