No. 11

12 March 2001


OPEC Production Down To 27.62Mn B/D In February

Total OPEC crude oil production decreased by 880,000 b/d in February, while member countries (excluding Iraq) that participate in the OPEC allocation program registered a decrease of 1.15mn b/d following the 17 January extraordinary ministerial meeting decision to cut production by 1.50mn b/d with effect from 1 February. OPEC members thus reduced production substantially, although some especially Iran kept their...