OPEC losses expected to exceed $75 BILLION in 2001
Banking sources in the United Arab Emirates (UAE) anticipate OPEC member’s revenues, excluding Iraq, to decline by 24 percent be the end of 2001 following the recent drop in oil prices.
The same sources estimated OPEC’s total revenues at no more than $197 billion by the end of 2001, compared with $275 billion last year. The price of oil per barrel dropped by 24 percent from $29 in 2000 to $22 in 2001. — (menareport.com)
© 2001 Mena Report (www.menareport.com)