Vol. XL

No. 2

13 January 1997


Iraqi Export Flow Boosts OPEC Output In December

OPEC's crude oil production rose by a further 120,000 b/d last month to reach 26.16mn b/d as compared with 26.04mn b/d in November, according to MEES estimates (see table below).

The OPEC increase was pretty much wholly attributable to the resumption of the flow of Iraqi oil exports to world markets in mid-December. MEES estimates that some 8mn barrels of Iraqi crude were exported from the terminals of Ceyhan...