VOL. XLVII

No 03

19-January-2004

SUPPLY/DEMAND

Oil Prices Should Be Determined By Market, Says Abraham

The US government believes that oil prices should be determined by market forces, US Energy Secretary Spencer Abraham said on 12 January. Speaking on a trip to China, Mr Abraham said however that US President George W Bush had expressed concern that oil prices should not undermine global economic growth of oil consuming nations. A strong growing world economy is good for oil-producing and...