OPEC estimates OPEC-10 output in September at 27.6 million b/d

London (Platts)--16Oct2006

Oil producers' cartel OPEC said Monday its ten members with quotas under
a notional 28 million b/d output ceiling produced an average 27.6 million b/d
of crude in September, down from 27.73 million b/d in August.
The Monthly Oil Market Report, published by the group's Vienna
secretariat, said average output from all eleven member countries, including
Iraq, totaled 29.67 million b/d in September, down from 29.79 million b/d in
August.
Saudi Arabian crude production was estimated at 9.09 million b/d.
OPEC derives its estimates of its own production from media "secondary
source" estimates of the cartel's output.
OPEC ministers meet in Qatar Thursday to decide how to distribute a 1
million b/d cut in crude production. Some countries believe the cut should be
from actual production, while others believe it should be from the official
quotas.
One source said earlier Monday that using recent "secondary source" data
could provide a "more or less" realistic basis for the planned cut.

For more OPEC news, visit Platts OPEC Guide at
http://www.platts.com/Oil/Resources/News%20Features/opec/index.xml


 

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