No 2

14 January 2002


OPEC Output Reduced For 4thConsecutive Month, Down 3.1% Year-On-Year For 2001

Total OPEC crudeoil production fell for the fourth consecutive month, declining by 730,000 b/d inDecember, mainly because of a sharp drop in Iraqi crude production. There wasvery little change in the output for the OPEC 10 member countries (excludingIraq), which participate in the allocation program. MEES data indicatethat in 2001 the OPEC 10 reduced production by 3.03mn b/d compared...