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Article: With oil prices high, non-OPEC members can offer little help
- Article from:
- THE JOURNAL RECORD
- Article date:
- October 6, 2000
CopyrightCopyright 2000 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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MEXICO CITY (AP) -- With crude oil prices at more than $30 a
barrel and members of the Organization of Petroleum Exporting
Countries doing little to push them lower, don't look to non-OPEC
countries for help.
Almost all oil producing countries -- both OPEC members, which
produce 40 percent of the world's oil, and nonmembers -- are pumping
as much oil as they can, as quickly as possible, to take advantage of
prices that have hit 10-year highs.
Non-OPEC members have appeared eager to follow OPEC's lead, with
Mexico, Norway, Russia and Oman cutting production along with the oil
cartel last year, and now happily pumping at full capacity while
prices remain high.
This cohesiveness -- easier in ...