VOL. XLIV

No 42

15-October-2001

OPEC

OilPrices Steady Despite War And Economic Slowdown

Crudeoil prices held steady last week despite the onset of war in Afghanistan andthe increasing signs of a prolonged global economic slowdown, although the OPECBasket price remained below the organizations target price band. The10-consecutive-working-day trigger point for the mechanism came on 5 October,but OPEC has not instigated the production cuts, which the mechanism requiresbecause of the exceptional...