VOL. XLVI

No 5

3-February-2003

OPEC

Market Tension Continues To Keep Prices High

Uncertainty over Iraq and Venezuela, as well as worries over low US stocks, continued to keep crude markets tense last week. In fact, until the US/Iraq problem is solved one way or another, crude markets will be prevented from reacting in proportion to the forces of fundamentals. There was a sharp fall in prices on 27 January, which came after the report by UNMOVIC head Hans Blix showed no evidence of weapons of mass...