Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (988)	3/5/2001 3:09:27 PM
From: Second_Titan	Respond to of 23153

Seems Saudia Arabia exceeded quota in Feb. I hope this does not go on for long. OPEC Feb Output Dn 798,000 B/D At 27.55 Mln B/D - Survey Dow Jones Newswires By Jim Efstathiou Of DOW JONES NEWSWIRES LONDON -- The Organization of Petroleum Exporting Countries' oil production fell 798,000 barrels a day in February versus January to 27.55 million b/d, a survey by Dow Jones Newswires showed Monday. Output for the 10 OPEC members which participate in the group's production agreement was 25.707 million b/d, 1.028 million b/d down from January but 507,000 b/d over OPEC's output target, the survey showed. The producers slashed output targets by 1.5 million b/d to 25.2 million b/d beginning Feb. 1. OPEC is scheduled to meet March 16 in Vienna, where a further cut of up to 1 million b/d is possible, senior OPEC sources said. "It depends how you take it," said Medhi Varzi, an oil analyst with Dresdner, Kleinwort, Wasserstein, referring to compliance with output targets. "People are too used to seeing the last two years. Even 100,000 b/d, 200,000 b/d over target is still a very good record." Saudi Arabia, OPEC's largest producer, reduced output by 377,000 b/d in February, coming in 134,000 b/d over its new target, the survey showed. Iran, with February output of 3.763 million b/d, was only 65,000 b/d over its target output. Iraq, which is not part of OPEC's output agreement, raised oil production to 1.85 million b/d versus January, the survey showed. However, that was still well below Iraq's average of about 2.9 million b/d in the second half of 2000. Following is a table of February crude output estimates for OPEC members (in million b/d for OPEC wellhead crude output by country, compiled by Dow Jones Newswires). Country February January Target Feb 1 Saudi Arabia 8.323 8.700 8.189,0 Iran 3.763 3.875 3.698,0 Venezuela 2.950 3.065 902,0,8 Nigeria 2.120 2.180 2.075,0 Indonesia 1.266 1.295 1.307,0 Kuwait 2.093 2.225 2.021,0 Libya 1.400 1.455 1.350,0 UAE 2.266 2.350 2.201,0 Algeria 0.823 0.850 0.805,0 Qatar 0.703 0.740 0.653,0 Total (10) 25.707 26.735 25.200,0 Iraq 1.850 1.620 Total (11) 27.557 28.355