Middle East Economic Survey


No 10


OPEC Production Hits 14-Month High

OPEC oil production in February, buoyed by a post-2003 war Iraqi production record, went to the highest level since December 2008, when ministers meeting in Oran agreed to cut output. OPEC sailings by mid-February flirted with the 23.5m b/d mark, according to tanker tracker Oil Movements. But the same shipping data shows exports dipping sharply from mid-February, indicating that OPECs core Middle East Gulf...