No. 11



OPEC Crude Output Rose To Nearly 26.7Mn B/D In February

OPEC crude oil production rose by a further 140,000 b/d last month to reach 26.69mn b/d as compared with 26.55mn b/d in January, according to MEES estimates (see table overleaf).

The February increase was for the most part attributable to increments of 50,000 b/d from Iraq where higher volumes were required to help reach the value target of $1bn for the first 90 days of the UN oil-for-food program due to a...