VOL. XLV

No 32

12-August-2002

OPEC

OPEC Pressures Mount As Crude PricesRemain Rangebound

Crude prices held steady onceagain last week, prevented from going lower by political concerns and preventedfrom going higher by mixed signals on demand and uncertainty over the globaleconomic outlook. At the same time, internal pressures over quotas and broaderpolitical issues began to make themselves felt within OPEC, at the start of therun-up to the 19 September ministerial meeting in Osaka. Theincreasing...