VOL. XLI

No. 19

11-May-1998

OPEC

OPEC Crude Production Dropped In April But Cutbacks Fell Short OfPledged Levels

OPEC's crude oil production declined significantly in April, but the extent of thecutback fell a good way short of the 1.245mn b/d which was pledged at the end-March OPECministerial conference. Part of this shortfall was, as expected, attributable to increasedoutput from Iraq which - due to the special circumstances of oil exports under the UNoil-for-food program - had to be excluded...