Middle East Economic Survey


No 32


OPEC Output Hits Fresh Post-Oran High

OPEC production continued to rise in July, hitting its highest levels since the organizations December 2008 Oran meeting, the latest MEES estimates show. But with both prices and the call on its crude projected to rise, members may have to boost output further to prevent a price spike.

Mideast sailings for most of July remained above the 17.5mn b/d levels hit in June, but not seen since November 2008,...