OAPEC lost $32 billion
Regional, Economics, 7/23/1999

Gulf petroleum sources told ArabicNews.com that the current increase of petroleum prices in international markets has revived the hopes of the Gulf and petroleum-producing states of compensating for financial losses accumulated since the decrease of petroleum prices at the end of 1997.

Sources said the losses that affected countries producing petroleum and members of OAPEC amounted to nearly $32 billion since the start of the prices' crisis in November 1997, through the end of last year.

Previous Stories:
  Arab states lose $33 billion due to deterioration of petroleum prices   (7/20/1999)
  Arab states lost 50 percent in income, withdrew assets to compensate budget shortfalls   (6/12/1999)
  Arab common market: Low inter-trade reveals problem, part 2   (5/12/1999)

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