OPEC January output falls 555,000 b/d to 29.605-mil b/d: EIA

New York (Platts)--7Feb2006

OPEC's crude output in January fell 555,000 b/d to 29.605-mil b/d due to
civil unrest-related cuts from Nigeria and a large decrease from Iraq, the US
Energy Information Administration said Tuesday.

     OPEC's two largest producers, Saudi Arabia and Iran, also saw output
reductions last month, the EIA said in its Short Term Energy Outlook for
February.

     EIA said Nigeria's January production fell 250,000 b/d from December to
2.35-mil b/d. The country was hit by a pipeline explosion and the kidnapping
of oil workers last month, with the unrest forcing Shell to cut its production
by roughly 221,000 b/d.     

     Iraq, beset by sabotage and weather-related delays, saw its output fall
150,000 b/d in January to 1.6-mil b/d.

     Saudi production fell 100,000 b/d to 9.4-mil b/d during the month, while
output from Iran slipped by 50,000 b/d to 3.9-mil b/d.

     The so-called OPEC-10, which does not include Iraq, produced 28.005-mil
b/d last month, down 405,000 b/d from December, said the EIA. That means
OPEC-10 pumped just 5,000 b/d over its formal 28-mil b/d ceiling in January,
according to the agency.

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