VOL. XLVI

No 50

15-December-2003

OPEC

Strong Iran Production Limits OPEC-10 November Oil Output Compliance

OPEC oil output rose by 105,000 b/d in November to 27.925mn b/d as sharply higher Iraqi production more than accounted for lower production by Saudi Arabia, UAE and Kuwait (MEES, 17 November). However, a reduction in production by the OPEC-10 countries (OPEC without Iraq) which are subject to production quotas, showed that compliance with the new quotas that took effect on 1 November was...