OPEC Production Falls

Wednesday, December 08, 1999
OPEC oil production fell 700,000 bpd in November, driven down by deep cuts to Iranian and Iraqi supply. The group's compliance rate with supply curbs improved to 89 percent last month from 83 percent in October as Iran cut some 310,000 bpd of output to stay within its OPEC quota, IEA, the West's supply watchdog, said in its monthly Oil Market Report.
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Offshore

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

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Tanker Trends

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