LONDON, February 10 /PRNewswire/ --
The 12 members of the Organization of the Petroleum Exporting Countries (OPEC) pumped an average 28.97 million barrels per day (b/d) of crude oil in January, according to a Platts survey of OPEC, oil industry officials and analysts just released. This is a decline of 930,000 b/d from the December level of 29.9 million b/d.
Excluding Iraq, production from the 11 members bound by output agreements fell by 970,000 b/d to 26.54 million b/d from the December estimate of 27.51 million b/d, the survey showed.
This leaves the OPEC-11 some 1.695 million b/d above its 24.845 million b/d target, agreed to at OPEC's December 17 meeting in Oran, Algeria, and which came into effect at the beginning of January.