Middle East Economic Survey

VOL. XLVII

No 25

21-June-2004

QATAR

BUDGETS AND REVENUES

Qatars Fiscal Year 2003-04 Oil Price Exceeds Forecast

Qatars oil price averaged $28.1/B in fiscal year 2003-04, which is considerably higher than the budgeted oil price which was set at a conservative $17/B, said Qatar National Bank (QNB) in its Qatar Economic Review published in April 2004. Qatars oil production averaged 710,000 b/d during the fiscal year, which is up from the previous 671,000 b/d. Based on these...