OPEC's current production quotas

Mar 15, 2002 01:00 AM

The OPEC, which agreed to leave output unchanged until June, has cut its production quotas by about 5 mm bpd since January 2001, including a 1.5 mm bpd cut since January 1 this year. Here are the current OPEC output quotas.

Country Quota (bpd)
Algeria 693,000 bpd
Saudi Arabia 7,053,000 bpd
United Arab Emirates 1,894,000 bpd
Indonesia 1,125,000 bpd
Iran 3,186,000 bpd
Kuwait 1,741,000 bpd
Libya 1,162,000 bpd
Nigeria 1,787,000 bpd
Qatar 562,000 bpd
Venezuela 2,497,000 bpd
Total 21,701,000 bpd

The quota system covers 10 members of the 11-member cartel, which produces over 30 % of the world's crude. Iraq does not participate in the system since UN sanctions were slapped on it following its 1990 invasion of Kuwait.

Source: AFP
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