OPEC AND OIL PRICES

Qatar Cuts Volume of Term Contracts with Japanese Customers 

In application of the OPEC agreement to reduce oil output in September and October, the Qatar General Petroleum Corporation (OGPC) has notified its two Japanese term customers Mitsubishi Corp. and Marubeni - of contract volume cutbacks of around 48% with effect from 1 September. According to MEES sources, Mitsubishi's volume has been reduced from 50,000 b/d to 26,000 b/d, and that of Marubeni from...