The discovery of major offshore oil reserves could propel the country into the top league of oil-exporting nations.

Yet global warming was scratched from the agenda of the summit meeting, largely at the insistence of the United States and oil-exporting nations.

These were mainly the emerging economies in Asia and oil-exporting nations.

He anticipates strength for the financial markets of oil-exporting nations that offer alternative sources of crude to the Middle East.

But other traders said plunging oil prices might hurt oil-exporting nations that owe billions to American banks.

He added that oil-exporting nations were not involved.

The US has exerted such pressure on several oil-exporting nations, such as Mexico.

Technically, "oil-exporting nations" are ranked as owning the fifth-largest chunk, or 2.6 percent, of American debt.

Also, the oil-exporting nations had begun to reduce their prices to stay competitive with solar energy, and the new fusion power.

Some major oil-exporting nations agreed yesterday to extend production cuts agreed to in June that have helped prop up falling oil prices.