VOL. XLV

No 36

9-September-2002

OPEC

OPEC Policy Split Evident But US-Iraq And Stocks Drive Crude Prices

Differences between Saudi Arabia and Venezuelaover OPEC quota policy dominated oil industry headlines early last week, butthe US-Iraq issue and a large stock-draw took over as the key drivers ofprices. While the potential for OPEC to decide against raising output quotas atits 19 September meeting in Osakaput upward pressure on crude markets, prices fell on 3 September as Baghdadtalked of...