18 JANUARY 1993

OPEC Output Still Exceeded 25.4Mn B/D In December

According to MEES estimates OPEC crude production (including Ecuador whichwithdrew from the Organization in late November) registered only a very modestfall in December, declining by 70,000 b/d to 25.42mn b/d as against 25.49mn b/din November. Thus OPEC as a whole made little progress in December towards itsdeclared goal - agreed upon at the end-November Vienna conference - of reducingcrude output to 24.9mn b/d...