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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (52345)	10/6/1999 11:26:00 PM
From: Tomas	Respond to of 95453

Many producers prefer to regard production on a quarterly basis, ironing out monthly fluctuations. By this standard, third quarter output, excluding Iraq, measured 23.28 million barrels daily, or 93 percent compliance, compared with 88 percent compliance for the second quarter. Third quarter production for all 11 OPEC members was about 26 million barrels a day. That compares with output capacity of about 33 million barrels daily, according to Bloomberg estimates. As a result, unused capacity runs at about seven million barrels daily on paper, though the practical level is closer to six million barrels daily, experts say. More than three million barrels daily of the unused capacity is held by Saudi Arabia alone. From Bloomberg, October 6