OPEC's Total Crude Oil Output Rose to 32 Million Barrels Per Day in December, a Platts Survey Shows
15 Jan 2008 19:09 Africa/Lagos OPEC's Total Crude Oil Output Rose to 32 Million Barrels Per Day in December, a Platts Survey Shows LONDON, Jan. 15 /PRNewswire/ -- The members of the Organization of Petroleum Exporting Countries (OPEC) produced an average 32.03 million barrels per day (b/d) of crude oil in December, according to a Platts survey of OPEC and oil industry officials January 14. This is up from November's rate of 31.65 million b/d. Production from OPEC's ten members bound by crude output agreements averaged 27.43 million b/d in December, the survey showed. This is 460,000 b/d more than in November and 177,000 b/d higher than the group's 27.253 million b/d target which came into effect at the beginning of November. "The increase in supply is certainly welcome to this market," said John Kingston, Platts Global Director of Oil. "It appears the group's on track to meet its January target, which is nearly 29.7 million barrels per day for ...