Oman not to Raise Oil Output Source: Xinhua News Agency Publication date: 2000-06-25

As an independent oil producer, Oman has said it will not join the Organization of Petroleum Exporting Countries in raising output. ABU DHABI, June 25

As an independent oil producer, Oman has said it will not join the Organization of Petroleum Exporting Countries in raising output.

Oman "will not be able to increase production now for technical reasons," said Salim bin Mohammad Shaaban, undersecretary at Oman's Oil and Gas Ministry, the Dubai-based daily "Khaleej Times" reported Sunday.

Following the OPEC's example, Oman in March reversed production cuts which went into effect in April 1999.

"We are now roughly where we were before the cuts, at just over 900,000 barrels" a day, Oman's Oil and Gas Minister Mohammed al- Ramhi remarked in April.

On Wednesday, OPEC agreed to raise its daily output by 708,000 barrels to 25.4 million barrels, increasing production for the second time this year in a bid to bring down prices in the world market.

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-- Martin Thompson (mthom1927@aol.com), June 27, 2000