VOL. XLV

No 40

7-October-2002

OPEC/OIL PRICES

CrudePrices Fall As Storm Worries Ease And Iraq Crisis Diplomacy Continues

Crude prices started high lastweek as political point-scoring kept tensions high, but eased as Hurricane Lili proved less devastating than was feared and Russia opposed atough US stance onIraq. Fundamentalindicators were conflicting. The EIA complained that OPECs productionrestraint had taken crude stocks towards startling new lows, and said Oilmarkets are not over-supplied....