VOL. XLIV

No. 02

8-January-2001

OIL/LPG PRICES

Crude Prices Creep Up On Expectation Of OPEC Production Cut

After a period of decline begun in early December, crude oil prices last week recovered some lost ground as OPEC looked to be ready to make a massive cutback in output to keep the OPEC basket price within the target $22-28/B range. The OPEC basket price had fallen below $22/B on 21 December and remained there until 2 January, when markets began to react to speculation about the size of the...