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Arab states lose $33 billion due to deterioration of petroleum prices
Regional, Economics, 7/20/1999
The revenues from petroleum exports in Arab member states of OAPEC went down to $76 billion dollars last year in comparison to $109 billion in 1997, a loss of 33 billion dollars, due to the deterioration of petroleum prices and a reduced international demand for petroleum which reflects negatively on the revenues of Arab petroleum exports.
Saudi Arabia achieved $31.9 billion (41%), which came in the first position followed by the United Arab Emirates with $10.2 billion, then Kuwait with $8.3 billion.
Total petroleum exports from Egypt amounted to $1.3 billion.
Previous Stories:
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(6/12/1999)
A report confirms increase of petroleum consumption in Arab nation
(3/25/1999)
5 countries to reduce oil production in April
(3/13/1999)
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