No 47

19 November 2001


OPEC Production Declines InOctober

Production by the OPEC memberstates declined for the second consecutive month registering 26.74mn b/d in Octobercompared to 26.84mn b/d in September and 27.56mn b/d in August (MEES, 29October). The OPEC 10 (excluding Iraq) maintained their reduction in October,in accordance with the new 1 September production cut agreement. However, Iraqiproduction increased to 2.8mn b/d in October, a rise of 260,000 b/d over theprevious...