VOL. XLVI

No 50

15-December-2003

OPEC

OIL PRICES

Crude Prices Supported By Low Inventories And Strong Demand

Crude oil prices rose early last week on the strength of buoyant NYMEX products markets following weather reports predicting a cold spell in the US. The subsequent decline was a result of traders and investors selling to take profits, but prices recovered after reports on 10 December the IEAs monthly data and the two weekly US inventory reports provided evidence of strong demand and...