VOL. XLVII
No 11
15-March-2004
OPEC
Crude Prices Rangebound On Conflicting Supply/Demand Signals
Crude oil prices moved in a range just below their recent post-Iraq invasion high last week, but analysts suggested the price pressure could soon ease. Saudi Arabias announcement of April crude allocations confirmed that OPEC intended to take a modest amount of oil out of the market in April, effectively setting a ceiling for the price range. The floor of the range was set by US weekly inventory data...
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