NO. 19



China to Reduce Oil Exports by 20,000 b/d

China announced on 31 January that it would reduce its crude oil exports by20,000 b/d. The decision is in line with similar voluntary measures taken bysome OPEC members to reduce the volume of crude oil available on the worldmarket and stabilize the price of oil. China's oil exports are believed to bearound 400,000 b/d. According to official figures, China produced 137.3mn tonsof onshore crude oil during 1991, or...