Qatar to reduce crude oil shipments

Qatar has informed its clients in southern Korea that it will reduce its shipments of crude oil through the land and the sea in next February at 6% of the contracted upon amounts.

News reports quoted traders as saying that Qatar has reduced Qatar's crude oil shipment through the sea at 6% of the contracted upon amounts in January, but made no reduction at Qatar's land's crude shipment.

Qatar has, however, intended to carry out similar shipment on contractors with it of Japanese clients.

Worthy mentioning that Qatar is an OPEC member, which ( OPEC) agreed in December 2001 to reduce its production at 1.5 million barrels per day as from the beginning of this January so as to withstand the decreasing world demands for oil and the recession in oil prices.