VOL. XLV
No 50
16-December-2002
OPEC
OPEC Production Slightly Lower In November
MEES estimates indicate that after a rise of eight successive months, November oil production by the OPEC 10 (excluding Iraq) declined slightly to 24.32mn b/d, which is 2.619mn b/d over the quota agreement which came into effect on 1 January 2002. Total November OPEC production (including Iraq) also decreased slightly by 160,000 b/d to 26.69mn b/d compared to 26.85mn b/d in October.
MEES soundings indicate that, while...
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