VOL. XLV

No 44

4-November-2002

IRAQ/OIL PRICES

Oil Prices Move Sideways As Hiatus Over Iraq Continues

After falling sharply on 25 October to ten week lows, oil prices stabilized last week as the current hiatus over action on Iraq continued. Analysts cited the serious talks for a compromise Security Council resolution on Iraq as a factor lowering the war premium of recent months, fresh evidence that OPEC continues to increase production over and above its 1 January ceiling and liquidation of...