VOL.XLV

No16

22-April-2002

OPEC

PoliticsAndEvidenceOfDemand Recovery Push Crude Prices To $25/B

The deepening Middle East crisis and an Iraqi oil embargo combined with bullish US stocks data last week to push WTI andBrent crude prices back above $25/B. The recovery was initiated by the swiftreturn to power of Venezuelas President Hugo Chavez after acoup, overturning earlier expectations that a new regime in Caracas would sanction an increase inexports (MEES, 15 April). OPECremains convinced that...