OPEC oil production in May fell 105,000 b/d to 29.345mn b/d from a revised April figure of 29.45mn b/d after Saudi Arabia’s April production was adjusted down to 9.1mn b/d for that month. Total OPEC output fell on a decline in Iraqi production as well as lower Saudi and Iranian oil exports in the month (MEES, 19 June). Production by the OPEC-10 (OPEC without Iraq) was up 75,000 b/d at 27.445mn b/d from a revised 27.37mn b/d in April, well below the 28mn b/d ceiling that has been in place since 1 July 2005. The May estimates have seen Saudi Arabia fall below its quota for the first time since late 1998 as it responds to lower refiner demand for its heavy crude, while Iran has unusually posted two straight months of relatively low exports. Iranian production comprised 2.145mn b/d of exports with deliveries to refineries at 1.5mn b/d.