VOL. XLI

No. 28

13-July-1998

OPEC

World Oil Production Down For Four Consecutive Months, Says IEA

World oil production in June fell for the fourth consecutive month to reach 75.37mnb/d, according to the latest International Energy Agency (IEA) Monthly Oil MarketReport (MOMR). However, record inventories, slow demand growth and a rising volume ofcrude approaching western markets have continued to keep prices weak.

According to the IEA, global oil output fell 180,000 b/d in June, bringing...