VOL. XLII

No. 24

14-June-1999

OPEC

OPEC Output Cutback Compliance Rose To Nearly 90% In May

OPECs crude oil production figures for May have broughtmore good news for the producing countries, signaling a rise in the level ofcompliance with output cutback commitments by 10 OPEC member countries(excluding Iraq) to nearly 90% as compared with 87% in April. According to MEESestimates, OPECs crude production (including Iraq) averaged 26.13mn b/d inMay down by 180,000 b/d from 26.31mn b/d in April,...