Qatar Increases Oil Exports WorldNews.com, Wed 20 Sep 2000 Email this story to a friend Print this story WN - James Casey.

The effectiveness of OPEC's oil price-control mechanism was thrown into question, with news that Qatar, the cartel's smallest producer, saw crude exports increase by more than 600% in the first six months of 2000.

According to some analysts, Qatar's exports in June were more than six times greater than in January: In the first month of 2000 Qatar exported only 98,915 bpd, while in June this had risen to 629,788 bpd. The June figure is still below the country's production quota, set by OPEC at 678,000 bpd.

The difference in monthly export figures raises interesting questions, not least the puzzle of what happened to the rest of Qatar's oil-output in January.

Recently the IMF sugested that continued high oil prices could have a significant negative impact on global prosperity and trade. Perhaps OPEC has drawn similar conclusions.

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-- Martin Thompson (mthom1927@aol.com), September 20, 2000

Answers

Hmmm! 600 percent. Maybe someone is cooking the books.

-- Martin Thompson (mthom1927@aol.com), September 20, 2000.