NO. 23

7 MARCH 1994

OPEC Production Rose To 24.76 Mn B/D In February

After dipping to 24.64mn b/d in January, OPEC crude production edged upwardsby some 120,000 b/d to 24.76mn b/d in February, according to MEES estimates.Overall, the February total represents an excess of 240,000 b/d over the OPECquota ceiling of 24.52mn b/d. However, if allowance is made for the built-inIraqi overshoot of 100,000 b/d, the over-quota output by the exporting OPECmembers is reduced to 140,000 b/d.