VOL. XLVI

No 31

04-August-2003

OPEC

OIL PRICES

Oil Prices Edge Slightly Higher On Gasoline Stock Fall As OPEC Keeps Ceiling Unchanged

Oil prices edged slightly higher in the last week of July after weekly US inventory data showed that gasoline stocks continued to fall in the face of strong domestic demand. OPECs widely forecast decision to leave its output ceiling on hold at 25.4mn b/d at its July 31 extraordinary meeting was largely factored into prices and had little impact on the market when it...