VOL. XLIII

No. 31

30-July-2000

OPEC

Uncertain US Gasoline Market Undermines Crude Oil Prices

Crude oil prices began to slide last week as increased supplies by OPEC in early July and then acceptance of higher nominations by Saudi Aramco later in the month for August delivery took effect by helping to cut US gasoline prices. US gasoline prices had become recognized as the key indicator of recent market tightness, but with the US driving season coming to an end and winter fuel stocks becoming a...