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SSY News
 OPEC MEMBERS’ OUTPUT TARGET INDISCIPLINE RISES IN FEBRUARY |
08-03-2010 |
February saw the combined crude production of Opec members (excluding Iraq) reach an average of 26.89 mbpd, up from 26.74 mbpd in January and 2.05 mbpd above the organisation’s stated output target, Argus reports. Amongst the member states with the worst levels of compliance, Angola’s February output averaged 1.96 mbpd, 443 kbpd above target; Iran produced 3.75 mbpd, 414 kbpd above target; and Nigeria were 307 kbpd above their target with output averaging 1.98 mbpd. The organisation next meets in Vienna on the 17th March where the current expectation is for targets to remain unchanged.
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