No. 24

11 March 1996


OPEC Output Fell Back In February But Remains Far Above Quota Ceiling

After a surge to 26.0mn b/d in January, OPEC crude oil production dropped back to 25.62mn b/d in February, according to MEES estimates (see table overleaf). But taking the January-February average of 25.81mn b/d, OPEC output so far in 1996 is nearly 700,000 b/d above the average production for 1995 and almost 1.3mn b/d above the official quota ceiling of 24.52mn b/d.

The fall in...