VOL. XLVI

No 45

10-November-2003

OPEC

OIL PRICES

Crude Price Slide Reversed By US Products Stockbuild

The recent slide in crude oil prices was reversed last week, as weekly US inventory data on 5 November showed large decreases in gasoline and distillates inventories and a smaller than expected build in crude stocks. The product stockdraws came amid rising refinery throughputs and imports, and the suggestion of US demand strength at a time when deliveries from OPEC producers are expected to fall...