NO. 16

16 JANUARY 1995

OPEC Crude Production Reached Almost 25mn B/D In December

OPEC's crude oil production fell only marginally short of 25mn b/d inDecember. According to MEES estimates (see table overleaf), OPEC's Decembercrude output rose to 24.99mn b/d, up 30,000 b/d from 24.96mn b/d in November.

At the 25mn b/d level of output nearly 500,000 b/d above the official OPECceiling of 24.52mn b/d OPEC does not leave itself much leeway in terms ofmaintaining even a balanced market,...