No. 04

22 January 2001


OPEC Output Down In December, Up 6% Year-On-Year For 2000

Total OPEC crude oil production fell by a hefty 1.32mn b/d in December, while production by the 10 member countries (excluding Iraq) which participate in the OPEC allocation program registered a small increase of 180,000 b/d.The reason for this discrepancy lay in the significant reduction in Iraqi oil exports under the oil-for-food program as a result of Iraqs attempt to impose a 40 cents/B surcharge...