VOL. XLVI

No 7

17-February-2003

OPEC

OPEC January Output Rises 2% But Still Constrained By Venezuela

MEES estimates indicate that OPEC oil production rose 2.2%, or 543,000 b/d, in January from December to 25.663mn b/d, as increased output from eight member countries erased a further fall in production from strike-bound Venezuela. Output by the OPEC 10 (without Iraq) was up 1.2%, or 263,000 b/d, to 23.11mn b/d from 22.85mn b/d in December, indicating that incremental Iraqi output in January...