VOL. XLV

No 21

27-May-2002

OPEC

Crude Prices Slide OnPromise Of Relaxed Supply Restraints

Crude pricescontinued rangebound last week, but fell from theprevious weeks eight-month high as news of a relaxation in recent supply-sideconstraints and mixed USstocks data outweighed political tensions as market drivers. Iraqi exportsreturned after an embargo for most of April, and Baghdadplans to raise deliveries to last years levels. At the same time Russiaand Norwayannounced an end to their supply...