OPEC
OPEC Crude Production Exceeds 17mn b/d in May
After falling to a low point of 14.6mn b/d in March, when buyers were extremely reluctant to lift OPEC crude at the newly imposed official prices, OPEC production has been climbing sharply to reach over 17mn b/d in May.
According to MEES estimates, crude oil production by OPEC member countries averaged 17.1mn b/d in May some 1.3mn b/d above the current quota ceiling of 15.8mn b/d.
The May production estimate of 17.1mn b/d compares with ...
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