VOL. XLIII

No. 34

21-August-2000

OAPEC

OAPEC Members Witness 35.5% Rise In Oil Export Revenues In 1999

According to the 1999 Annual Report of the Secretary-General of the Organization of Arab Petroleum Exporting Countries (OAPEC), the total value of oil exports by the member countries rose by 35.5% in 1999 to $104,055mn from $76,770mn the previous year, the highest year-on-year increase in the period 1995-1999. The revenue increase was due to the rise of oil prices since March 1999 in contrast to...