VOL. XLVII

No 07

16-February-2004

OPEC

Crude Prices Boosted By Supply Cut Decision But Market Uncertain Over OPEC Tactics

Crude oil prices were boosted last week by OPECs decision to reduce overproduction for March and to cut quotas by 1mn b/d from 1 April. The decision was taken on 10 February, just after the OPEC Basket price threatened to fall within the organizations $22-28/B target range for the first time since its brief re-entry of 1 December 2003. Prices received another upward push by US...