VOL. XLVI
No 39
29-September-2003
OPEC
OIL PRICES
Crude Prices Rise More Than $1/B On Surprise OPEC Quotas Cut
Crude prices rose by more than $1/B on 24 September, after OPEC ministers meeting in Vienna announced a 900,000 b/d reduction in total production quotas beginning on 1 November. The quotas cut was announced at a time when the price for OPEC Basket crude appeared to be settling around the center of the organizations $22-28/B target band for the first time in months. The announcement took...
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