No. 03



OPEC Production Inches Up In December While Registering 2.6% Year-On-Year Gain For 1998

After its big rise in November, OPECs crude oil production inched up again by 50,000 b/d in December. According to MEES estimates, OPECs crude output rose to 27.61mn b/d in December, as against 27.56mn b/d in November. On this basis it is calculated that compliance with the 2.6mn b/d of production cuts pledged by 10 OPEC countries (excluding Iraq) with effect from 1 April...