Middle East Economic Survey


No 28


OPEC-11 Output Hits 18-Month High

Production from the 11 OPEC members which participate in output deals hit their highest levels since the December 2008 Oran meeting decision to slash supply, according to the latestMEES estimates. And despite the onset of summer and heavier domestic consumption, Middle East Gulf sailings in June broke decisively through the 17.5mn b/d mark for the first time since November 2008, the latest shipping data from...