No 17

29 April 2002


OPEC Production EndsSeven Month Decline In March

An increase inproduction by the OPEC 10 member countries (excluding Iraq)in March has ended the seven-month decline since last August. Oil production bythe OPEC 10 rose in March by 255,000 b/d. Total OPEC productionin March (including Iraq) also increased to 25.305mn b/dcompared to 25.060mn b/d in February.

OPEC 10 Marchproduction of 22.775mn b/d exceeded the new 21.701mn b/d ceiling by 1.074mnb/d. MEES soundings...