WORLD: OPEC LIKELY TO RAISE OUTPUT.(Organization of Petroleum Exporting Countries)(Brief Article)

IPR Strategic Business Information Database, July, 2000

According to Al-Hayat newspaper (July 18, 2000), a senior source in OPEC revealed that OPEC is likely raise its oil output by 500,000 barrels per day, in addition to the output increase decided in OPEC's previous meeting last June. The same source added that the new raise in output will begin later this month if the oil price per barrel remains above $28.