No 32



OPEC Oil Production Holds Steady In July

Total OPEC oil production averaged 26.38mn b/d in July, almost the same as the June average of 26.37mn b/d, MEESestimates indicate (MEES, 21 July). OPEC-10 (OPEC without Iraq) also retained the approximate level of the previous month, with July production standing at 25.68mn b/d compared to the June level of 25.87mn b/d. One reason behind the steady supply is the fact that the average price of the OPEC Basket has remained...