NO. 11

13 DECEMBER 1993

OPEC Keeps Within Quota Target For November

Battered though it may be by troubles on the price front, OPEC did at leastmanage - for the first time for quite a while - to keep within its officialproduction ceiling for the month of November. According to MEES estimates, OPECcrude production averaged 24.51mn b/d in November - a shade below the 24.52mnb/d ceiling and 270,000 b/d less than the previous month's level.

On MEES reckoning (for details see table below),...