Menu
Share
Share this story
Close X
 
Switch to Desktop Site

Arab oilmen concerned over effect of the glut

Arab oil producers have admitted alarm over the world oil glut. The surplus threatens further to exhaust Arab reserves, force down prices, and lead to harmful competition among the producers, the Organization of Arab Petroleum Exporting Countries said in its monthly bulletin. It said the glut on the world market signaled a growing trend that favors consuming countries.