OPEC Production Up in December
OPEC produced an average of 23.86 million barrels of crude oil per day in December, up 230,000 barrels from 23.63 million barrels in November, an oil industry newsletter said today.
The Nicosia-based Middle East Economic Survey said its Saudi Arabian production figures of 8.5 million barrels a day included a half share of Saudi Arabia’s neutral zone production and showed an increase of 100,000 barrels a day over November.
At the same time, Iran kept up its high production in December, averaging 3.45 million barrels a day.
MEES said Saudi Arabia showed the largest increase in volume and percentages, reaching 6.394 million barrels a day in 1990 for a 27% gain over 1989. This represents the highest Saudi production since 1982. Venezuela, Libya, the United Arab Emirates and Iran also registered healthy rises of 20%, 23%, 11% and 10%, respectively, in 1990.
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