Opec output is creeping up, as rising oil demand from China and the effect of Opec cuts since September last year buoy crude prices.Production bv the 11 members excluding Iraq rose by 200,000 b/d in November from an upwardly revised October figure (see table). Saudi Arabia is gradually boosting output, as it has consistently shown optimism that the global economy is on the mend and that oil demand will rise. Higher crude allocations to Asia-Pacific buyers in December indicate that Saudi output is still edging higher.
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