VOL. XLVI
No 29
21-July-2003
OPEC
OIL PRICES
Crude Prices Buffeted By Supply Concerns, US Stocks
The OPEC Basket price rose above the organizations $22-28/B target band last week for the first time since March, as Hurricane Claudette shut in some Gulf of Mexico oil production. The closures added to supply-side concerns over continuing uncertainty about the return of Iraqi exports to the market. However, weekly US stocks data published on 16 July showed a strong increase in gasoline and distillates...
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