VOL. XLV

No 33

19-August-2002

OPEC

OPEC Production Continues On Rising Trend

There was a noticeable increase inOPEC production in July, mainly due to higher output from Iran and Iraq. The OPEC10 member countries (excluding Iraq)increased production by 200,000 b/d over June to 23.52mn b/d, while total OPECproduction (including Iraq) in Julystood at 25.35mn b/d, or a rise of 510,000 b/d overthe previous month.

The July production figuresdemonstrate a continuation of the progressive growth of OPEC...