VOL. XLII

No. 29

19-July-1999

OPEC

OPEC Continues To Maintain CredibleProduction Cutback Compliance

OPEC member states have continued their credible productionrecord since their March agreement, with the June output cutback commitments by10 OPEC member countries (excluding Iraq) reaching a level of compliance ofaround 89% compared to 90% in May. According to MEES estimates, OPECscrude production (including Iraq) averaged 25.84mn b/d in June - down by295,000 b/d from 26.13mn b/d in May, by...