VOL. XLVI

No 42

20-October-2003

OPEC

OIL PRICES

Crude Prices Held Steady By OPEC Supply And US Heating Oil Stocks Concerns

Both the main crude market benchmark prices held steady above the $30/B mark last week, buoyed by OPEC determination to implement production cuts of 900,000 b/d from 1 November, and by concerns about the adequacy of US heating oil stocks as winter approaches. The OPEC Basket price remained above the organizations $22-28/B target range, which it exceeded on 6 October as markets...