Crude oil production from OPEC fell to 30.65mn b/d in December 2012, down from 31.08mn b/d in November, led by a plunge in exports from both Saudi Arabia and Iraq, according to the latest (14 January) Platts survey of OPEC and oil industry officials and analysts. The 430,000 b/d month-over-month drop takes the oil producer group closer to its 30mn b/d output target, which has now been in place for more than a year, having been extended at OPEC's 12 December 2012 ministerial conference in Vienna.
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