VOL.XXXVI

NO.49

6SEPTEMBER 1993

OPECCrude Output Dropped Sharply To

24.33Mn B/D In August

Somewhatagainstexpectations,OPECappearstohave

achieved a substantial reduction in its crude oil output in August. According to MEES estimates (see table below), OPEC

crudeproductionfellby455,000 b/d to 24.335mn b/d in August from 24.790mn b/d in July (revised figure).The impact of this decline has evidently not yet made itself felt inthemarket,wherecrude prices - after abrief rally

petered out when fears...