VOL. XXXVI

NO. 32

10 MAY 1993

OPEC Registers Further Output Reduction In April But Remains 500,000 B/DAbove Quota

According to MEES estimates, OPEC registered a further reduction of 250,000b/d in April, bringing the monthly total down to 24.12mn b/d from 24.370mn b/din March. The April average remains more than 500,000 b/d above the ceiling of23.582mn b/d set last February, but this is unlikely to cause much perturbation in the market which seems to regard any OPEC volume close to 24mn b/d as a...