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Platts: November OPEC Oil Output Fell 90,000 Barrels Per Day To 31.08 Million B/d

The past month has seen Brent crude oil trading in a $6/b range, between $106 and $112/b.

"Clearly, based on the various comments made so far by ministers ahead of the December 12 OPEC meeting, there is no expectation of any sort of action that would restrain supply coming out of the Vienna gathering," said John Kingston, Platts global director of news. "A quick glance at some estimates of what OPEC needs to produce to keep the market balanced, versus what it is actually producing – more than one million barrels-a-day higher – could give the impression that the group might have thought about pulling back on its output but has not reached any such consensus."

For production numbers by country, click  here. If prompted for a cost-free, one-time-only log-in registration, the log in is your email address and a password of your choosing.  

Platts OPEC and oil experts are available for media interviews; please consult  Platts Media Center to schedule an interview. For other  oil, energy and related information, visit  www.platts.com.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets.  Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency.  Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets.  A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at www.platts.com.

About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

CONTACT: Kathleen Tanzy212-904-2860 Kathleen_tanzy@platts.com

SOURCE Platts

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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