Oman will not Join OPEC's Increase in Oil Output
Oman will not join the Organization of Petroleum Exporting Countries in raising output, reported the English daily Oman Observer.
"Oman will not be able to increase production now for technical reasons," said undersecretary at the oil and gas ministry Salim bin Mohammad Shaaban.
In April, oil minister, Mohammad bin Hamad Romhi, said that Oman, a producer which coordinates closely with OPEC, had followed the cartel's example in March by reversing cuts which went into effect in April 1999.
"We are now roughly where we were before the cuts, at just over 900,000 barrels" a day, he was quoted as saying.
OPEC agreed on Wednesday to raise daily output by 708,000 barrels to 25.4 million barrels, increasing production for the second time this year in a bid to bring down prices - Albawaba.com
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