VOL. XL

No. 7

17-February-1997

IRAQ

Iraqi Exports Boost OPEC Crude Output To 26.55Mn B/D In January

OPEC crude oil production rose by a further 390,000 b/d last month to reach 26.55mn b/d, as compared with 26.16mn b/d in December, according to MEES estimates (see table below).

As expected, the January increase in OPEC output was largely attributable to a programmed increment in Iraqi crude oil exports under the UN oil-for-food plan (resolution 986). MEES estimates that Iraqi crude oil exports...