NO. 20

15 FEBRUARY 1993

OPEC Crude Output Rose Even Further In January

Expectations that OPEC crude oil production might drop back somewhat inJanuary, in line with the first-quarter 1993 output allocations agreed upon atthe end-November conference in Vienna, have apparently not been fulfilled inpractice. According to MEES estimates OPEC crude production (excluding Ecuador)actually increased by 165,000 b/d to 25.260mn b/d in January as against 25.095mnb/d in December.

After throttling...