OPEC output holds steady in July

12 August 1994
REGIONAL

OPEC stuck to its combined output ceiling in July mainly because of output problems in Nigeria where oil workers are striking against the military government.

A Reuters survey showed combined output of the 12 OPEC states was 24.78 million barrels a day (b/d) in July. This compares with 24.79 million b/d in June and the OPEC combined quota until the end of the year of 24.52 million b/d.

Nigerian production is estimated to have fallen to 1.8 million b/d from 1.93 million b/d in June. Most other OPEC states are estimated to have produced at or more than their OPEC allocations. Iraqi output was put at 550,000 b/d in July compared with its quota of 400,000 b/d.

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