VOL. XLIV

No 48

26-November-2001

OPEC

Russian IndecisionCounters Non-OPEC Moves To Revive Oil Prices

Promisesof production cuts by non-OPEC producers Norway, Mexico and Oman gave a boostto crude oil prices last week, after the previous weeks steep decline. Yet themomentum was halted by Russia opting on 23 November to continue talking ratherthan follow suit and make a serious cut. Prices fell when the news wasannounced; however promise of a further meeting to discuss cuts in 2002 willprobably...