VOL. XLVI

No 23

9-June-2003

OPEC/OIL PRICES

Crude Prices Steady As Traders Balance Positions Ahead Of OPEC Meeting

Crude oil prices held steady near a two-month high last week, as traders balanced their positions ahead of the extraordinary OPEC ministerial meeting in Doha on 11 June. While US stocks remain at uncomfortably low levels, oil supplies are already being held back by OPEC producers under the April production agreement, in response to the seasonal 2Q demand fall. Last weeks early and...