VOL. XLIII

No. 38

18-September-2000

OPEC

OPECs Bid To Lower Crude Prices Thwarted By Unexpected Events

OPECs promise of further production increases (see lead story) did not have the desired effect of sending crude oil prices on a downward track. Despite an extra 800,000 b/d of OPEC supplies beginning 1 October and the possibility that the US government will draw on its Strategic Petroleum Reserve (SPR), prices rose, dipped and then rose again as Iraq threatened on 14 September to take suitable...