The American Ministry of Energy expects OPEC to experience a decline in oil revenues in 2002. The ministry anticipates OPEC to incur a 30 percent accumulated oil revenue fall by 2003, Al-Hayat reported.
The American market will spend $20 billion less on oil during the same period. The same source estimates OPEC’s oil revenues at $197 billion for the year of 2001, a 19 percent drop compared with 2000. OPEC’s oil revenues are estimated at $167 billion for 2002. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
