VOL. XLIII

No. 04

24 January 2000

OPEC Compliance Slips In December While Production Registers 5% Decline Year-On-Year For 1999

Overall OPEC crude oil production fell by a hefty 790,000 b/d in December, while production by the 10 member countries (excluding Iraq) which participate in the OPEC output cutback program registered a small increase of 190,000 b/d. The reason for this discrepancy lay in the shutdown of Iraqi exports until 19 December because of the delays associated with the renewal...