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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: CpsOmis who wrote (53132)10/18/1999 7:45:00 AM
From: oilbabe   of 95453
 
OPEC Compliance With Output Quotas Falls to 92.5% in September, MEES Says

Nicosia, Oct. 18 (Bloomberg) -- The Organization of
Petroleum Exporting Countries' compliance with self-imposed oil
output cuts of 4.3 million barrels a day fell by 2 percentage
points in September to 92.5 percent, the Middle East Economic
Survey reported. OPEC's total production, excluding Iraq, which
is not participating in the cutback program, rose by 80,000
barrels a day to 23.3 million barrels a day. Saudi Arabia, the
world's biggest oil producer, boosted output last month by
50,000 barrels a day to 7.5 million barrels a day, the report
said.

Benchmark Brent crude oil has risen to $22.50 a barrel from
less than $10 in December as 10 members of OPEC and four other
nations agreed to cut world oil output by a total of about 7
percent for one year, starting on April 1, to end an oil glut.
(MEES 10/18)
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