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EIA: OPEC 10 December Crude Output Steady Versus November Levels January 9, 2007

Posted by notapundit in Economic News.
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NEW YORK (Dow Jones)–The Organization of Petroleum Exporting Countries left output unchanged in December, the U.S. Energy Information Administration said Tuesday.

The 10 OPEC members subject to production quotas produced an average of 26.95 million barrels a day in December, equal to production in November, the EIA, the statistics and analysis arm of the Energy Department, said in its monthly Short-Term Energy Outlook.

Production is 650,000 barrels more than the 26.3 million barrels a day OPEC agreed to cut output to from November.

Including Iraq, which is not subject to OPEC’s quota system, the cartel produced 28.95 million barrels a day of oil in December, equal to November levels, EIA said.

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