VOL. XLIV

No 51

17-December-2001

OPEC

Crude Price Jittery As MarketAwaits OPEC/Non-OPEC Cuts Confirmation

The crude market was jittery lastweek, with no firm production trimming agreement emerging. Russia, Norway,Mexico and Oman have all promised production/export cuts in response to OPECsoffer to trim output by 1.5mn b/d from 1 January if non-OPEC producers cut500,000 b/d simultaneously. This uncertainty caused a fall in crude prices,although there was a brief reversal of the fall midweek as...