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SSY News
 OPEC PRODUCTION UP IN JANUARY |
08-02-2010 |
Production by the eleven members of OPEC excluding Iraq averaged 26.75
mbpd in January, 1.9 mbpd above the organisation’s own quota, Argus
reports. This represents the tenth consecutive rise in monthly
production, and sees quota compliance fall to 55%. Furthermore,
scheduled OPEC shipments are set to rise in February, resulting in the
first year on year rise since the global economic downturn commenced.
The organisation meets in Vienna on 17 March, where ministers are
expected to call for increased discipline: not least because OPEC
production (including Iraq) averaged 29.2 mbpd in January, 1.4 mbpd
more than the organisation’s anticipated daily call on crude of 27.82
mbbl. |
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