No. 38

17 June 1996


OPEC Production Continues Steady In May

OPEC crude oil production remained essentially steady last month, declining by a modest 30,000 b/d to 25.75mn b/d in May from 25.78mn b/d in April, according to MEES estimates (see table below). These totals include figures for Gabon, which was deemed to have left OPEC at the Organization's recent conference in Vienna.

Within the May total for OPEC, Iran's production is reckoned to have dropped by 130,000 b/d...