Herewith the current official production ceilings for OPEC's 10 members participating in its supply-limiting regime, increased already twice this year -- in March and June -- to try to ease soaring prices.
Actual production figures however show that OPEC is already cheating on the official figures, giving a real daily production level of over 26 million barrels.
In addition Saudi Arabia has reportedly said it produced an extra 600,000 barrels per day since a unilateral announcement in July that it would increase production to calm markets.
All figures are in barrels per day.
country barrels per day:
Algeria 811,000
Indonesia 1,317,000
Iran 3,727,000
Kuwait 2,037,000
Libya 1,361,000
Nigeria 2,091,000
Qatar 658,000
Saudi Arabia 8,253,000
United Arab Emirates 2,219,000
Venezuela 2,926,000
Total 25,400,000
Iraq, while an OPEC member, does not fall under the quota system because of UN sanctions.—AFP.
©--Agence France Presse.
© 2000 Mena Report (www.menareport.com)
