VOL. XLVI

No 15

14-April-2003

OIL PRICES

Oil Prices Steady As OPEC Signals Readiness To Act On Oversupply

Oil prices steadied over the last week, ending for the time being the series of price falls that have seen Brent and WTI lose around $10/B in the last month. The slump in prices was halted after OPEC officials indicated they were seeking an emergency meeting to discuss a reduction in overproduction in order to stabilize the OPEC basket price within the organizations preferred $22-28/B price...