Higher gasoline prices mostly caused by falling supply

Several OPEC countries, including terrorism sponsors Saudi Arabia, Iran, and Venezuela, have been among those reducing their supplies to world markets. Statistics accompanying an article by Neil King Jr. and Spencer Swartz in the Wall Street Journal on May 29 report that oil exported by the top 15 oil exporting countries fell in 2007, as compared to 2006.

Here is a list of those countries that increased their exports in 2007, and that increase in thousands of barrels per day:

* Angola +358
* Russia +152
* Iraq +47
* Lybia +22
* Algeria +20

And here is a list of those countries that decreased their exports in 2007, and that decrease in thousands of barrels per day:

* Saudi Arabia -602
* Mexico -255
* Norway -221
* Iran -165
* Venezuela -158
* Nigeria -90
* Kuwait -73
* Quatar -21
* U.A.E. -16

By Howard of Trade-Wars http://trade-wars.blogspot.com/